La Mesa Village Station, a multi-tenant retail center totaling approximately 57,911 square feet, has been sold for $21.6 million, according to a brokerage.
The property, located at 5901–5999 Severin Drive, sold on June 9.
The seller was La Mesa Village Station Trust, and the buyer is the Institute for Effective Education. The transaction was facilitated with support from Robert Shaw and Cameron Aldrich of Chicago Title, providing title services. The buyer was represented by Ryan Mitchell of Cresa.
“We brought this property to market, generated multiple offers, and ultimately worked with both parties for a quick and smooth transaction, despite a very unique and challenging capital markets environment, for a true win-win scenario for all involved”, said Principal Brian Jenkins of Commercial Asset Advisors.
The firm also assisted the seller in the goal of reallocating “capital to other markets,” added Mike Conger, also of CAA.
La Mesa Village Station sits on almost 6 acres on the north end of La Mesa, near Grossmont Hospital and Grossmont Center, and just steps from the Orange line of the San Diego Trolley.
The site includes a fitness center, community theater, spa, home lender and barber shop.
This property represents one of the three largest non-institutional retail sales in East County in over 10 years, according to CAA., a brokerage that specializes in retail, office and industrial assets.
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