Asana Partners acquires upscale retail center in the San Diego area
JLL represented the buyer in the off-market acquisition of The Beacon La Costa in Carlsbad, California for $57.6 million
SAN DIEGO, CALIF., August 22, 2019 – JLL’s Capital Markets team announced that Asana Partners acquired The Beacon La Costa, a 123,000-square-foot upscale retail center located at 7710-7770 El Camino Real in Carlsbad, California in an off-market transaction.
JLL’s Geoff Tranchina and Jose Carrazana represented the buyer.
"This was an opportunity for Asana Partners to acquire a unique neighborhood center in an affluent trade area with pent-up demand from specialty retailers and unique-to-market restaurant operators,” said Tranchina. “There continues to be investor interest in high-quality retail centers located in top tier, demographically-driven markets.”
The Beacon La Costa is located in one of San Diego County’s most affluent neighborhoods with an average household income of approximately $163,000 within a three-mile radius. The property is anchored by the first Equinox in San Diego.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
About Asana Partners
Asana Partners is a retail real estate company investing in high-growth markets across the United States. Leveraging its differentiated capabilities in retail real estate value creation, the Company capitalizes on opportunities to create authentic retail experiences in compelling locations around the country. For more information, visit www.asanapartners.com.