Lowe, Real Capital Solutions acquire 1.1msf open-air retail center in San Diego
Lowe and Real Capital Solutions has acquired Westfield Mission Valley, a 1.1-million-square-foot open air retail center that they intend to upgrade and reposition as a walkable, transit-oriented, mixed-use village.
The sales price was $290 million.
Lowe, which has knowledge and experience in the San Diego area, will lead the project, and said it will apply its dedicated retail platform Retail reVision to implement a mixed-use concept that will refresh the existing retail and add complementary uses such as multifamily residential to the property.
Originally built in 1960, the Mission Valley retail center, set on more than 41 acres in the Mission Valley area of San Diego at 1640 Camino del Rio North, has direct access to Interstate 8, I-805 and State Route 163, and is opposite the San Diego Trolley’s Mission Valley Center Station. The center has 73 shops and restaurants, including Target, Nordstrom Rack, Macy’s Home, Michael’s, Bloomingdale’s Outlet, 24-Ho