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Balboa Mesa Shopping Center, San Diego


Jacksonville, Fla.-based Regency Centers has acquired Balboa Mesa Shopping Center, a 189,321-sq.-ft. infill shopping center anchored by a 42,247-sq.-ft. Vons grocery store.

Regency purchased the San Diego property for $59.5 million from Balboa Realty LLC.

Built in 1969, Balboa Mesa Shopping Center is also anchored by a 77,000-sq.-ft. Kohl’s and a 24,000-sq.-ft. CVS/pharmacy.

“Balboa Mesa fits Regency’s standards for a dominant shopping center, including infill location, market-leading anchors and population density,” said Howard Overton, VP of transactions for Regency Centers.

According to Regency, the property, which is 95% leased, is ripe for redevelopment, which would increase square footage and improve NOI.

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