JLL Capital Markets arranged the $58.25-million sale of Marigold Center, a 174,428-square-foot grocery-anchored shopping center located at 3900 Broad St. in San Luis Obispo. Senior managing directors Gleb Lvovich and Geoff Tranchina, along with managing directors Daniel Tyner and Eric Kathrein, represented the seller, First Washington Realty. Nuveen Real Estate acquired the asset.
Marigold Center is a community shopping center that was 91.6% leased at the time of sale. The property is anchored by Vons, CVS Pharmacy and Planet Fitness and features a diverse mix of grocery, pharmacy, fitness, sporting goods, restaurant, medical and service-oriented tenants.
“Grocery-anchored neighborhood retail with NOI growth potential and high-performing anchors drew broad investor interest throughout our marketing process,” said Tyner. “We are pleased to see Marigold Center continue to perform at a high level under new ownership.” JLL previously arranged the sale of the property to First Washington Realty in 2017.
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