SIX buildingS, APPROX. 161,500 sQ. fT.
Year built: 1974
Address: 1002-1068 mISSION aVE & 306-326 n. hORNE sT, oCEANSIDE, CA
Summary: Mission Square Shopping Center is a coastal retail center of approximately 161,500 rentable square feet situated on 11.67 acres in Oceanside. Anchored by Walmart Neighborhood Market, 99 Cents Only Store, and AutoZone, Mission Square is the only grocery-anchored shopping center west of I-5 in Oceanside. With other credit tenants, including Chase, Panda Express, El Pollo Loco, Wendy’s, Harbor Freight Tools, and Subway, Mission Square was approximately 99% leased upon acquisition.
almost STABILIZED PURCHASE WITH EXTERIOR IMPROVEMENTS TO BUILDING AND SITE PLANNED UPFRONT. REdEVELOPMENT POTENTIAL BASED ON EXCEPTIONAL LOCATION, ZONING, AND improving SUBMARKET.
Deal Points: Acquired in August 2019 with a 15-year loan secured, Mission Square Shopping Center was purchased with the premise that the excellent location of the property lends itself to substantial transformation and redevelopment potential in the future. Situated adjacent to the freeway at the main entry point to Downtown Oceanside, Mission Square has prominent visibility from Mission Avenue and flexible zoning that allows for various uses and mixed-use projects. The existing leases (with multiple tenant extension options) push the horizon for substantial redevelopment into the future, however initial improvements to the property facade and landscaping are planned to enhance the current image of the center.