La Jolla Development Group has purchased the Convoy & Balboa Retail Center in Kearny Mesa, Calif., for $3.9 million.

The 10,620-square-foot neighborhood shopping center is located at 4488 Convoy St., and was fully occupied by seven tenants at the time of sale. Major tenants include Sunglass & Optical Warehouse, JP’s Bait and Tackle and PayDay Loan.

The sale also included two billboards, both on long-term leases with CBS Outdoor.

The seller was Lebow Investment Company.

Grubb & Ellis|BRE Commercial brokers Michael Roberts, Glenn Arnold and Steve Rowland represented the seller, and the buyer represented themselves.


***


What’s your opinion? Leave your comments below or send a
letter to the editor.


Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription