REIT buys SoCal retail center

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Grubb & Ellis/BRE Commercial brokered the sale of the 110,458-square-foot El Camino Promenade in Encinitas, Calif. The value of the transaction was $24.5 million. Weingarten Realty purchased the shopping center, located at 204-252 N. El Camino Real, from ACF El Camino 02 LLC. At the time of sale, El Camino Promenade was 100 percent leased to tenants such as TJ Maxx, AMC Theater, Burger King, and Beverages and More. Houston, Texas-based Weingarten Realty Investors is a real estate investment trust. San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage company. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....