written by
Natalie Baylon

Intersection Sells San Marcos Square for $7.25M

1596-190 S. Rancho Santa Fe Road, San Marcos, CA 92078

Intersection Announces Sale of San Marcos Square for $7.25 Million

Intersection is pleased to announce the successful sale of San Marcos Square, a prime retail property located at 156-190 S. Rancho Santa Fe Road, San Marcos, CA. Buddha San Marcos LLC and Mindful San Marcos LLC purchased the property for $7,250,000, or $340 per square foot. This transaction, therefore, further underscores the continued demand for high-quality retail assets in the region.

Prime Location & Value-Add Strategy

In late 2017, HCV San Marcos Square LLC—an affiliate of Intersection—acquired San Marcos Square, recognizing both its strong location and value-add potential. The company immediately addressed deferred maintenance issues and, as a result, enhanced the property’s exterior, ultimately increasing its appeal to both tenants and investors alike.

Strategic Leasing & Tenant Mix

Subsequently, Intersection Commercial Brokerage worked diligently to curate a diverse tenant mix, which significantly strengthened the property’s credit profile. Notably, the team re-tenanted more than 50% of the rentable square footage, leading to a weighted average lease term (WALT) of 6.5 years. These efforts, in turn, substantially improved the center’s long-term value.

“San Marcos Square has undergone a remarkable transformation,” said Dan McCarthy, Senior Director at Intersection. “By curating a strong tenant mix, we enhanced its appeal and created an engaging retail environment for the community. The blend of local and national tenants, combined with its prime location, makes this a strong investment.”

Additionally, Alec Spencer, Senior Associate at Intersection, remarked, “Our leasing efforts revitalized the property, and we are proud of the transformation.”

High Demand for Quality Retail Investments

Ultimately, private investors acquired the property to generate long-term cash flow and appreciation. As a result, this sale reaffirms the strong market demand for well-positioned retail centers.

To learn more about this project or the deal, please reach out to Alec Spencer at [email protected]

Natalie Baylon is the Marketing Manager at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please get in touch with Natalie at [email protected] 

written by
Natalie Baylon

Intersection Equities & Blue Vista Facilitate Partial Sale at Riverside Industrial Project

 Intersection Equities and Blue Vista, together BVIE Riverside Park Owner, LLC (“Owner”), announce the successful partial sale of a 3,000 SF retail building within its small-bay industrial project, located at 2902-2976 Rubidoux Blvd. in Riverside, CA. The transaction, valued at $780,000 ($260 per square foot), marks a strategic milestone for both the buyer and seller in achieving their respective real estate objectives.

The buyer, Alfonso Sandoval Jimenez, an existing tenant at the project, capitalized on the opportunity to acquire their building, demonstrating their historical success at the project, and confidence in their business’s future growth. This sale was facilitated through favorable Small Business Administration (SBA) financing terms, allowing Jimenez to gain control over their real estate. For the Owner, this transaction represents the successful execution of their continued business plan, by selling individual parcels at a premium relative to the acquisition basis of $160 per square foot.

“This partial sale reflects a win-win outcome for all parties involved,” stated Rocco Cortese, CEO and Co-founder of Intersection Equities.

“Jimenez secured ownership of their space under favorable financing terms, while we mitigated risk and reduced debt exposure. This transaction underscores our strategy of adding value through strategic asset management and proactive tenant relations.”

Anton Myskiw, Senior Associate at Intersection Equities, added, “The successful sale of this retail building validates our investment thesis and enhances the overall value of our Riverside small-bay industrial project.”

Intersection Equities continues to pursue opportunities that optimize value for tenants and investors alike, leveraging its expertise in industrial real estate.

To learn more about this project or the deal, please reach out to Anton Myskiw at [email protected]

Natalie Baylon is the Marketing Manager at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please get in touch with Natalie at [email protected] 

written by
Natalie Baylon

Grocery Outlet Signs Long-Term Lease at Prominent Pacific Beach Retail Site

RSR Holdings, LLC, represented by Dan McCarthy and Alec Spencer of Intersection, has secured a significant lease agreement with Grocery Outlet, a leading publicly traded retailer in the grocery industry. The lease encompasses 12,365 square feet of prime retail space at 1211 Garnet Avenue for a term of 132 months, with a total lease consideration of $3,708,797.00.

Known for its strategic location and substantial visibility on a major arterial, 1211 Garnet Avenue offers 12,365 square feet of retail space accompanied by ample dedicated parking—a rare find in the Pacific Beach submarket. Following extensive marketing efforts, RSR Holdings identified Grocery Outlet as an ideal long-term partner based on its robust business model and brand presence with over 480 locations nationwide.

“We are gratified to have completed this agreement with Grocery Outlet, whose tenancy will undoubtedly enhance both the asset and the Pacific Beach community,” stated Alec Spencer, Senior Associate at Intersection.

With a legacy of serving Pacific Beach through notable retailers such as Thrifty Drug Store and Trader Joe’s, 1211 Garnet Avenue continues a reputation for attracting premium tenants and achieving strong lease rates under the stewardship of RSR Holdings and Intersection.

Grocery Outlet is renowned for offering name-brand groceries at discounted prices, making it a valuable addition to the retail landscape of Pacific Beach.  They were represented in this transaction by Dave Hagglund of CBRE.

This partnership marks a significant milestone for RSR Holdings, reinforcing its commitment to maintaining enduring relationships with tenants and delivering exceptional value to the community.

To learn more about this project or the deal, please reach out to Alec Spencer at [email protected]

Natalie Baylon is the Marketing Manager at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please get in touch with Natalie at [email protected] 

written by
Natalie Baylon

Intersection Equities and Equity Resource Investments Acquire Henderson Industrial Park for $16.95M

Intersection Equities is pleased to announce the acquisition of Desert Canyon Industrial Park, a 95,364 square foot, small bay industrial business park in Henderson, Nevada. The asset was purchased for $16.95 million. Colliers represented the Seller, Nicola 249 Elliott LP, and Erik Sexton and Camila Rosales of NAI Vegas represented the Buyer, a joint venture between an affiliate of Intersection Equities, LLC and a fund managed by Equity Resource Investments, LLC.

Desert Canyon Industrial Park (the “Property”) spans 95,364 square feet across five buildings, constructed between 2001 and 2007. The Property is comprised of 36 total suites ranging in size from 2,400 to 3,200 square feet, featuring 16 to 18 ft clear heights and a total of 63 grade-level doors. The Property is located within the Henderson submarket which currently maintains a 2.4% vacancy rate, with no known competing small bay industrial developments planned in Henderson. We believe the Property is appealing to tenants given its proximity to Interstate 11 & SR 585, and what we believe to be a strong pipeline of residential and mixed-use developments in the area.

“We acquired this transaction with debt and equity partners who appreciated the fundamentals of the Property,” said CEO and Co-founder at Intersection, Rocco Cortese. “It is well located, and we believe offers us an attractive going-in cap rate as well as upside potential, something that is difficult to find in this market.”

“This is our 6th industrial acquisition and our 3rd in the Las Vegas area. We know this market well and believe in the demand characteristics for small bay industrial,” added Anton Myskiw, Senior Associate at Intersection.

Intersection plans to complete a light renovation at the project and engage in a proactive management program focused on increasing tenant satisfaction, enhancing curb appeal, and marking rents to market.

To learn more about this project or the deal, please reach out to Anton Myskiw @[email protected]

Natalie Baylon is the Marketing Manager at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please get in touch with Natalie at [email protected] 

written by
Natalie Baylon

Mercado Rancho Bernardo Named First Retail Center to Earn the Prestigious TOBY® Award

Intersection is excited to announce that The Mercado in Rancho Bernardo has earned a historic achievement in commercial real estate as the first retail center to be named The Outstanding Building of the Year (TOBY®) Award in San Diego, by the Building Owners Management Association (BOMA). This accolade, traditionally bestowed upon office buildings, is a testament to our commitment to excellence in property management and operations.

The TOBY Award represents the pinnacle of recognition within the commercial real estate industry, honoring exemplary practices in building management across specific categories of building types or sizes. To even qualify for consideration, a property must first earn a BOMA 360 designation, triumph in local and regional competitions, and eventually emerge victorious at the regional level.

At The Mercado, our journey to this groundbreaking achievement has been marked by vison, innovation, and relentless pursuit of excellence. Over the years, Intersection has meticulously curated an international tenant mix that harmonizes to create an unparalleled experiential retail center. Our partnership with Intersection Facility Services has ensured seamless tenant improvements and project maintenance, elevating the property to new heights.

Situated in the heart of San Diego’s tech and innovation corridor, Rancho Bernardo serves as the backdrop for The Mercado’s success. The area boasts an impressive roster of major companies, including Amazon, Hewlett-Packard, Northrop Grumman, Sony, and the recent addition of Apple’s sprawling 67.5-acre campus. Conveniently accessible via I-15 with multiple entry points via Rancho Bernardo Road and Bernardo Center Drive, The Mercado stands as a community focal point, drawing in residents, office employees, and visitors alike.  Coupled with a strong residential demographic component and proven retail traffic patterns, project ownership and management saw the potential to raise the shopping experience to a new level.  Capital investment and creative vision have resulted in a unique project that is 100% leased.

What sets The Mercado apart is its commitment to excellence in every facet of its operation. From its very walkable accessibility, well-maintained landscapes, and prominent signage to the recent exterior enhancements accentuating its unique architectural features, every detail has been meticulously crafted to create an inviting and exceptional retail environment.

The judging criteria for the TOBY Award encompass an array of factors, including community impact, tenant and employee relations programs, energy management, accessibility, emergency procedures, personnel training, sustainability and overall excellence. The rigorous inspections conducted by industry experts validate the significance of this achievement.

Winning the TOBY Award underscores our dedication to delivering best-in-class operations and management. It is a testament to the hard work, dedication, and collaborative spirit of everyone involved in making The Mercado an unparalleled success.

We owe this momentous achievement to the vision, expertise, and collaborative efforts of an exceptional team. It’s with immense gratitude that we extend our thanks to:

  • Nicole Schuck and Sean Rafford (Intersection Real Estate Services): Their unwavering commitment to excellence have been the driving force behind The Mercado’s success. Your vision and dedication have steered us toward this historic milestone.

  • Nick Cardoso and Fernando Cruz (Intersection Facility Services): Their relentless efforts in handling tenant improvements and maintenance have been instrumental in elevating The Mercado to its current stature. Your attention to detail and commitment to excellence are truly commendable.

  • Dan McCarthy and Alec Spencer (Intersection Commercial Brokerage): Their expertise in curating a tenant mix that creates an exceptionally experiential retail center has been invaluable. Your insight and dedication have been pivotal in shaping The Mercado into what it is today.

  • Mark Hoekstra (President and Co-founder of Intersection): His guidance, vision, and unwavering support have been the cornerstone of the success at Mercado for nearly three decades.

Each member of this exceptional team has played an integral role in securing this prestigious recognition. Your dedication, passion, and unwavering commitment to excellence have been the driving force behind The Mercado’s triumph.

This recognition only fuels our commitment to continuous improvement and innovation. As we celebrate this milestone, we also look ahead, eager to continue setting new benchmarks in the commercial real estate landscape.

The Mercado in Rancho Bernardo isn’t just a retail center; it’s a testament to the power of vision, collaboration, and unwavering commitment to excellence. Thank you to everyone who has been a part of this incredible journey. Together, we’ve made history.

Join us in celebrating this remarkable achievement and experience the excellence that defines The Mercado.

To learn more about Mercado Shopping Center or the TOBY awards, please reach out to Nicole Schuck @[email protected]

Natalie Baylon is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Natalie at [email protected] 

written by
Natalie Baylon

Intersection Equities and Blue Vista Capital Management Acquire Riverside Industrial Park for $19.5M

Intersection Equities, LLC announces the acquisition of Riverside Business Park, a 122,000 square foot, industrial business park in Jurupa Valley, CA. The asset was purchased for $19.5 million. Barret Woods of Lee & Associates represented the Seller, Transition Properties, L.P., and Stefan Pastor of Stream Realty represented the Buyer, a new joint venture between Intersection Equities, LLC and an affiliate of Blue Vista Capital Management, LLC.

Riverside Business Park is a 122,000 square foot, multi-tenant business park comprised of 30 suites ranging in size from 1,500 to 11,000 square feet. The Property features a total of 30 drive-up doors and is positioned on 8.9 acres of land. The park is located directly along CA State Route 60 and is in close proximity to State Route 91 and Interstate 215.

The purchase of Riverside Business Park aligns with Intersection’s strategy of acquiring well-located industrial assets that offer significant value-add potential in core markets west of Denver.

“We acquired the property at a substantial discount to replacement cost and we will make strategic capital improvements focused upon enhancing the appeal of the project to current and prospective tenants”, said Intersection Senior Director of Acquisitions, Eric DeWees. “This is our fourth industrial acquisition and we’re excited to be doing it with a new partner in Blue Vista.”

Anton Myskiw from Intersection added, “This is a rare investment opportunity in a market we have been hoping to break into for some time. We are eager to begin executing our business plan and create an exceptional industrial asset on behalf of our new partnership.”

 
 

To learn more about this deal please reach out to Eric DeWees at [email protected] or Anton Myskiw at [email protected]

Natalie Baylon is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Natalie at [email protected] 

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