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]