Sand City Retail Center Sells for $9.5 Million

JLL Capital Markets recently brokered the $9.5 million sale of The Shops at Edgewater, a 25,223-square-foot retail center located at 2080 California Avenue in Sand City, California. The property was fully leased at the time of the transaction, featuring a diverse tenant roster that includes Ulta Beauty, Panera Bread, Mancini’s Sleepworld, and a Bank of America ATM. The center also benefits from shadow anchors such as Target, Ross Dress for Less, and Lucky, which contribute to its strong customer draw and overall retail appeal.

Eric Kathrein, Andrew Spangenberg, and Allie Repaskey of JLL represented the private seller in the transaction. The buyer was an entity operating as Sand City Holdings LLC. This acquisition underscores the ongoing investor interest in well-located, fully occupied retail assets within California's dynamic coastal markets. The successful sale of this property, particularly given its stable tenant base and strategic positioning near established anchor stores, reflects robust market liquidity for stabilized commercial properties. For developers, architects, and lenders, this transaction signals continued investment confidence in retail real estate, emphasizing the value of strong occupancy and prime locations in securing significant deals.