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The San Diego Business Journal recently published an article discussing how “a retail rarity draws buyers, despite the tight market.” The authors of the article, Lou Hirsh and Michael Lipkin, stated “Prime retail properties rarely hit the market in San Diego, and when they do, the price tags are rarely discounted. The latest example is the recent $107 million sale of the Walmart­ anchored McGrath Center on Clairemont Mesa Boulevard in Kearny Mesa.”

They continued to discuss CGS3 client McGrath’s sale by stating it was “San Diego County’s second ­largest retail deal so far in 2015, after the recent transaction that saw a portfolio of nine properties — in San Diego, Chula Vista, Oceanside and El Cajon — change hands for $183.25 million.”

The full article, published on August 13, 2015 can be found here.