“The tenant was thrilled with the co-tenancy at this community retail hub,” said Clarke, president of Lee & Associates Santa Barbara. “The property is surrounded by a diverse mix of retailers, making it an attractive location for any retail tenant. Pair this with a central location with access to major highways and downtown San Luis Obispo, the deal offers tremendous upside for the tenant.”
Located at 1530 Froom Ranch Way, the shopping plaza hosts numerous well-known retail brands such as Costco, Home Depot, PetSmart, BevMo!, New Frontiers Market and T.J. Maxx, which is also owned by the same company as HomeGoods.
OfficeMax is slated to close its doors sometime around the New Year, with HomeGoods expected to open in spring 2014.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 49 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin. With a roster of nearly 750 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.