JAMUL, Calif. (October 20, 2021) — Commercial Asset Advisors successfully completed an off-market sale of a retail shopping center in the unincorporated community of Jamul within San Diego County. The property, which had not been listed for sale, sold for $6 million on Sept. 17, 2021, CAA announced.
The 18,926-square-foot center has multiple tenants and is anchored by a 7-Eleven gas station. It is located at 12918-12930 Campo Road, Jamul, CA 91935. The property includes approximately one acre of unused land that could be developed in the future.
CAA’s Gino Kalasho and Mike Conger represented the buyer, Fuel Team Inc., on this transaction. The seller was Dan Floit.
“This was a strategic purchase by the buyer, who recognized the property’s existing value and future potential,” said CAA Principal Mike Conger. “With tenants at below-market rents turning over in the next couple years – plus land that is currently not being utilized – this was an attractive investment.”
CAA Sales Associate Gino Kalasho said: “In today’s market, this was a rare opportunity to acquire a multi-tenant retail center that generates existing cash flow while providing exciting future opportunities for the owner.”
About Commercial Asset Advisors
Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,400 sale and lease transactions totaling over $500 million in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.