25,409 SQFT Retail Center Hits San Diego Market for $10.75MM

By Catherine Sweeney 

A shopping center in San Diego, offering a mix of local and national tenants, has hit the market. The property is being listed by Colliers International’s Marc Posthumus, with an asking price of $10.75 million, or $423 per square foot. 

The property, also called The Mesa College Square Shopping Center, is located at 7604-7608 and 7612 Linda Vista Road. The strip mall sits on 2.16 acres and totals 25,409 square feet. The family-owned shopping center is currently owned by an entity associated with M.C. Square LLC, which is registered to Caryl Frost Chabot. 

The property is 86 percent occupied with a variety of service and food retailers. Tenants offer a net operating income of $521,934 and include Rose Donuts, T-Mobile, K Sandwiches and various other local service retailers, such as a  laundromat, hair salon and a chiropractor, among others. 

Mesa College Square is located in the heart of Central San Diego, near a number of residential buildings. The property also maintains easy access to Interstate 805 and State Route 163. The shopping center is also near a number of educational institutions, such as Mesa College and the University of San Diego. 

The area is also highly populated, with 411,543 people with an annual average household income of  $105,284 in a five-mile radius. The immediate vicinity is projected to continue growing as well, with a population of 417,780 projected by 2026.

Demand for retail assets in San Diego has picked up considerably in the past year. According to recent CBRE research, net absorption in the fourth quarter of the year hit 114,666 square feet. Vacancy rates also dropped to 5.7 percent, which was the first time the region saw below a six percent vacancy rate since the second quarter of 2020. 

Colliers did not respond in time to comment on this story.