Log In/Sign Up
Your email has been sent.
Scripps Ranch Shopping Center 4 Retail Properties in San Diego, CA
Investment Highlights
- Trader Joe’s Anchored Neighborhood Center
- Below-Market Lease Rates, Tremendous NOI Growth – Lease rates are currently 21% below market
- High Identity Office and Daytime Employee Location – The property serves over 120,000 daytime residents and employees
- Strong Tenant History/Retention – Secure, established income stream with several of the tenants (63% of the existing GLA)
- Significant Frontage, Tremendous Visibility and Signage – Scripps Ranch Shopping Center benefits from excellent visibility
Executive Summary
* Trader Joe’s Anchored Neighborhood Center – Scripps Ranch Shopping Center is a ±70,693 SF neighborhood center anchored by Trader Joe’s featuring a diverse, top tier tenant mix generating meaningful “daily needs” trips
* Strong Tenant History/Retention – Secure, established income stream with several of the tenants (63% of the existing GLA) having occupied the property for more than 15 years, demonstrating a recession resistant asset with high tenant demand
* Below-Market Lease Rates, Tremendous NOI Growth – Lease rates are currently 21% below market and include many tenants without extension options, offering a prime opportunity to attract a curated tenant mix and drive NOI growth. CBRE is projecting an approximate 63% increase in NOI over a 10-year hold, enhancing yields as an inflationary hedge with an extremely attractive CAGR of 5.0%
* Chuck E. Cheese accounts for 19% of the GLA at Scripps Ranch Shopping Center with no options remaining beyond the current term ending April 2029. Upon demising the space, CBRE projects market rents to be more than 2x current in-place rent, creating an opportunity that is rarely seen for a center of this quality and location
* Significant Frontage, Tremendous Visibility and Signage – Scripps Ranch Shopping Center benefits from excellent visibility with ±1,000 feet of frontage along I-15 (±276,500 CPD) and is easily accessed via Hibert St from Mira Mesa Blvd (±46,500 CPD) and Scripps Ranch Blvd (±20,000 CPD)
* High Identity Office and Daytime Employee Location – The property serves over 120,000 daytime residents and employees (including 12,000 military personnel) drawn from 3.4 million SF of office and 23,000 acres of military installations located within 3 miles
* Strong Tenant History/Retention – Secure, established income stream with several of the tenants (63% of the existing GLA) having occupied the property for more than 15 years, demonstrating a recession resistant asset with high tenant demand
* Below-Market Lease Rates, Tremendous NOI Growth – Lease rates are currently 21% below market and include many tenants without extension options, offering a prime opportunity to attract a curated tenant mix and drive NOI growth. CBRE is projecting an approximate 63% increase in NOI over a 10-year hold, enhancing yields as an inflationary hedge with an extremely attractive CAGR of 5.0%
* Chuck E. Cheese accounts for 19% of the GLA at Scripps Ranch Shopping Center with no options remaining beyond the current term ending April 2029. Upon demising the space, CBRE projects market rents to be more than 2x current in-place rent, creating an opportunity that is rarely seen for a center of this quality and location
* Significant Frontage, Tremendous Visibility and Signage – Scripps Ranch Shopping Center benefits from excellent visibility with ±1,000 feet of frontage along I-15 (±276,500 CPD) and is easily accessed via Hibert St from Mira Mesa Blvd (±46,500 CPD) and Scripps Ranch Blvd (±20,000 CPD)
* High Identity Office and Daytime Employee Location – The property serves over 120,000 daytime residents and employees (including 12,000 military personnel) drawn from 3.4 million SF of office and 23,000 acres of military installations located within 3 miles
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 70,576 SF |
| Number of Properties | 5 | Total Land Area | 6.09 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 70,576 SF |
| Total Land Area | 6.09 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
SR Ranch Shopping Center
9840-9860 Hibert St, San Diego, CA 92131 |
Retail | 38,714 SF | 1981 | - |
| 9870-9872 Hibert St, San Diego, CA 92131 | Retail | 18,512 SF | 1982 | - |
| 9844 Hibert St, San Diego, CA 92131 | Retail | 7,887 SF | 1983 | - |
| 9880 Hibert St, San Diego, CA 92131 | Retail | 5,463 SF | 1985 | - |
1 1
Contacts
-
Jimmy Slusher -
Mark Damiani -
James Tyrrell -
Reg Kobzi -
Michael Peterson -
Shaya Northrup -
Nicole Bose -
CBRE, Inc.
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Scripps Ranch Shopping Center
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.