Small retail center in Poway sold by Carlsbad firm for $11.6 million ...Middle East

Poway Valley Center, 13314-13340 Poway Road. (Photo courtesy of CBRE)

Poway Valley Center, a small retail property on Poway Road, has been sold for $11.6 million, a brokerage announced.

The 24,802 square-foot property, at 13314-13340 Poway Road, sits at one of the busiest intersections in the area. Most of the 16 tenants have been there for many years, according to CBRE, including Little Sprouts Daycare, Wingstop, Poway Irish Pub, Don Pollo Mexican Food and Bongiorno’s Pizzeria.

CBRE’s Reg Kobzi, Joel Wilson and Michael Peterson represented the seller, Capstone Advisors, of Carlsbad, in the transaction. Jimmy Leach and Erik Ransdell of Strands Realty Group, along with Michael and Anthony Annunziata, represented the buyer,  Badal Satasiya.

“This recently remodeled asset will provide the buyer with a stable and growing cash flow for years to come,” said Kobzi, a senior vice president at CBRE.

This is the seventh asset sale this year by Kobzi, Wilson and Peterson. Last year, they completed over $162 million in sales.

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