CLAIREMONT – San Diego, CA (November 21, 2024) - Commercial Asset Advisors (CAA) is thrilled to announce the successful sale of a premier multi-tenant retail property located at 4360-4370 Genesee Avenue, San Diego, CA 92117. The property sold for $4,719,000 at a 6% cap rate on October 31, 2024. This recently sold property consists of two well-maintained commercial buildings totaling 6,558 square feet, fully leased to established tenants Cotixan, a popular Mexican eatery, and Circle K, a leading convenience store and gas station.
Located on Genesee Avenue, one of San Diego’s busiest corridors with 25,000 cars passing daily, the property enjoys unparalleled visibility and accessibility. Surrounded by major retail hubs like Genesee Plaza, Balboa Mesa, and Liberty Park Plaza, it is ideally positioned for retail-driven businesses, offering investors a stabilized income stream in a thriving commercial area frequented by local residents and commuters. This transaction underscores the value of the location and the enduring appeal of the area for retail and service-oriented tenants, making it a sound investment in the dynamic San Diego market.
The Buyer, 4360 Genesee LLC, was represented by Gino Kalasho, Senior Vice President at CAA. The Seller, Genesee Properties LLC, was represented by Jon Busse of Colliers International, with Melissa Smith of First American Title Insurance Company facilitating the transaction.
“This deal reflects our ability to identify and secure optimal investment opportunities for our clients. Amidst a continually evolving real estate market, we extended our reach to find the ideal solution for our client's requirements.” said Gino Kalasho. “Despite challenges, our strategic approach ensured a seamless and timely closing.”
Commercial Asset Advisors continues to demonstrate an unwavering commitment to delivering top-tier real estate solutions, even amidst challenging and evolving market conditions. This transaction exemplifies our dedication to guiding clients in navigating complex market dynamics, achieving their unique investment objectives, and growing their real estate portfolios with confidence. Our team remains steadfast in our mission to support clients every step of the way, providing strategic insights and personalized services to drive success in every transaction.
CAA has represented multiple buyers and sellers in all product types this year all over San Diego County, demonstrating the firm's ability to maximize values regardless of product type, location, or situation.
For additional information, you may contact:
Gino Kalasho, Senior Vice President (DRE Lic. # 02046687), at gino@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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