Description
Grosvenor Square is a 56,006 square foot community center located in the center of the San Diego Metro area in one of the city' s regional retail hubs just west of the intersection of Interstates 5 & 8, and is adjacent to a power center anchored by Home Depot and Target.
Grosvenor Square is currently 97% leased to a diverse mix of retail tenants, including PetsMart, Starbucks, L&L Hawaiian BBQ, Chipotle, Mattress Discounters, the Vitamin Shoppe, Sprint, Jennifer Convertibles, Advance America, Batteries Plus, and other regional and local tenants.
.748 acres of Fee Simple Interest consisting the hard corner parcel (Ground Lessor has the option to purchase this parcel at 50% of fair market value upon ground lease expiration) &
4.162 acres of Leasehold Interest consisting of 4 parcels subject to a ground lease which expires March 31, 2033
Grosvenor Square is uniquely positioned at the high traffic corner of Rosecrans and Sports Arena. Traffic counts are 57,900 cars per day on Rosecrans Street and 29,400 cars per day on Sports Arena Boulevard, making this intersection one of the busiest in San Diego. The strong fundamentals of both the location and the retail trade area will continue to put upward pressure on the market rents in this densely populated, supply constrained market.
The strength of this densely populated trade area and the property' s central location can be illustrated by the many other national and regional retailers located in the immediate area (see retail aerial map) including: Target, Home Depot, Vons, 24 Hour Fitness, TJ Maxx, Henry' s, Walgreens, Longs, Sports Chalet, Michaels, Circuit City, Barnes & Noble, Big Lots, Smart and Final, Staples, Ross, Dixieline, Pier 1 and many others. The retail core bounded by Rosecrans St, Sports Arena Blvd and Midway Drive serves as a central retail destination for all the surrounding beach, inland and downtown San Diego communities.