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RETAIL: SKEPTICALLY POSITIVE

San Diego

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RETAIL: SKEPTICALLY POSITIVE
RETAIL: SKEPTICALLY POSITIVE
?We're not out of the woods yet,? says Lee & Associates San Diego North chief David Howard. Even though San Diego retail has seen slight improvement over last year, ?there are lots of B and C properties that need tenants, and that's the struggle.? There is a silver lining—his firm's triple-net group recently closed on a rare CVS sale in Chula Vista, and the San Diego restaurants are seeing increased activity, especially from franchises like Wingstop. Geographically speaking, this Anaheim Ducks fanatic tells us ?we're seeing real activity downtown? as well as the North County. Above, he's with colleagues Christina Woods and Randy Dalby last week at ICSC's annual Western Division Conference.
RETAIL: SKEPTICALLY POSITIVE
Regency Centers' Greg Sadowsky gave us the inside scoop on his firm's $59.5M acquisition of the Balboa Mesa Shopping Center, located at what he calls one of San Diego's top five intersections. (For those who aren't familiar, that's Balboa and Genesee.) Anchored by Kohl's, Vons, and CVS, it's receiving a full facelift—started by the center's previous owner—as well as 16k SF in new space. While Greg and team are still working on a leasing plan, he tells us they're hoping to fill vacancy with food and service users. Work on the new space starts next spring, with the first phase opening in late '13.