Buyer secured for nearly finished shopping plaza

Grubb & Ellis/BRE Commercial represented Torrey Hills Marketplace in the purchase of Torrey Hills Center, an 86,582-square-foot retail shopping center nearing construction completion in San Diego, Calif.

The value of the transaction was approximately $36.8 million.

Sorrento Hills Marketplace LP sold the property, which is located at 4639-4653 Carmel Mountain Road.

Designed by Smith Consulting Architects, Torrey Hills Center features a California craftsman theme, with lavish stone exterior treatments and custom lantern lighting. A large public plaza will accommodate outdoor dining.

The center will be anchored by an upscale Vons grocery store. Other tenants include Union Bank, Wells Fargo Bank, Hollywood Video, Starbucks Coffee, Pick Up Stix, Daphne's Greek Cafe, Subway and Windermere Exclusive Properties.

Construction completion is slated for this August.

San Diego-based Grubb & Ellis/BRE Commercial is one of Southern California's leading privately held commercial real estate brokerage firms.

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