EL CAJON, San Diego, CA (January 13, 2025) – In a major transaction marking the conclusion of 2024, closing December 30, 2024, three 100% leased, multi-tenant retail buildings, totaling approximately 30,115 square feet, have been sold for $9,057,585. The property, located at 700 N Johnson Ave., El Cajon, CA 92020, represents one of the largest multi-tenant retail center sales in East County last year, according to an announcement from Commercial Asset Advisors.
The Seller was the Hacienda Trust, and the Buyer is RPD Catalyst LLC. The seamless execution of the sale was supported by Robert Shaw and Cameron Aldrich of Chicago Title, who provided integral assistance throughout the process. Peter S. Kornberg, with Zyman Law assisted the Seller with legal representation.
"Several challenges presented themselves during the transaction, but we were able to successfully navigate them ensuring a mutually beneficial outcome for both Buyer and Seller. Through a coordinated, boots-on-the-ground effort, we achieved an earlier-than-anticipated close date in less than 60 days, during the holidays, so that both parties achieved their goals," said Brian Jenkins, Principal at Commercial Asset Advisors.
Key Highlights of the Transaction
Prime Location: Situated in the thriving East County region, 700 N Johnson Ave. benefits from its high-visibility location with steady traffic, and proximity to El Cajon’s regional Parkway Plaza Shopping Mall and Interstate 8 Freeway.
Strong Tenant Roster: Fully leased at the time of sale, the property boasts a diverse mix of tenants, ensuring consistent income generation and a robust investment profile.
Expedited Timeline: The transaction was closed in under 60 days, a remarkable achievement given the complexities involved and the holiday season timeline, the number of tenants, and interest rate volatility.
This sale demonstrates attractiveness of the El Cajon retail market. Despite macro-economic challenges, high-quality assets in strategic locations continue to attract strong interest from investors. The transaction is a testament to the robust demand for well-positioned, income-generating retail centers in Southern California.
Commercial Asset Advisors is a leading commercial real estate brokerage specializing in retail, office, and industrial assets. With a track record of delivering exceptional results, their team is dedicated to achieving client success through expertise, market insight, and personalized service.
For inquiries about this transaction or other investment opportunities, please contact:
Mike Conger, CAA Principal (DRE Lic. # 01381193), at mike@caacre.com
Brian Jenkins, CAA Principal (DRE Lic. # 01814828), at brian@caacre.com
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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 1,500 sale and lease transactions totaling over $1.5 billion in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.
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