CenterCal Properties acquires San Diego’s Mira Mesa Market
CenterCal Properties, a developer of up-market mixed-use properties on the West Coast, has made an addition to its growing parcel of centers in SoCal.
The El Segundo, Calif.-based company has acquired Mira Mesa Market, a 249,225-sq.-ft. center in San Diego whose tenants include Barnes & Noble, Men’s Wearhouse, Ross Dress For Less, Panera Bread, Ulta, and Old Navy.
Located at the southeast corner of Mira Mesa Boulevard and Westview Parkway just off Interstate 15, the property sits at one of the busiest intersections in the area and benefits from high visibility and strong daily traffic, according to its new owner.
CenterCal has plans to reinvest in Mira Mesa Market and to undertake new tenant curation to strengthen its position in the community. San Diego’s Mira Mesa neighborhood holds some 50,000 residents with median household incomes of $127,000.
"Mira Mesa is an exciting addition to the CenterCal portfolio because it combines strong retail real estate fundamentals with clear long-term potential," said CenterCal CEO Jean Paul Wardy. "This is a well-positioned asset in an established community, and we look forward to transforming it into a vibrant destination that reflects how the neighborhood lives and shops today."
Wardy founded CenterCal Properties in 1998 with a mission to “create spaces that foster connection, enjoyment, and a sense of belonging.” Its centers feature brands the likes of Crate & Barrel, Lululemon, Apple, LA Fitness, and Bass Pro Shops.
Centers in its portfolio include Bridgeport Village in Oregon; The Trails at Silverdale in Washington; Mountain View Village in Utah, and The Village at Meridian in Idaho.
The company recently broke ground on a The Collective at Morning Vista, a 134,000-sq.-ft. development to be anchored by Whole Foods Market in Lehi, Utah, in the rapidly growing Silicon Slopes technology corridor. Other confirmed tenants for the property include Bamboo Sushi, VIO Med Spa, and Petfolk.
