KB Home Coastal Purchases Retail Property in El Cajon, California for $21.2 Million
KB Home Coastal has purchased a retail property in El Cajon, California, for $21.2 million from City Ventures Homebuilding LLC.
KB Home Coastal, a prominent real estate developer, has recently made a significant acquisition in El Cajon, California. The company has purchased a retail property from City Ventures Homebuilding LLC for a total of $21.2 million. The property, located at 300 El Cajon Boulevard, spans an impressive 35,200 square feet and sits on 7.38 acres of land. The deal was finalized on July 11, 2023.
El Cajon is a city situated 15 miles east of San Diego, making it an attractive location for commercial real estate investments. The area has seen steady growth in recent years, with a thriving retail sector and a strong demand for commercial properties. The retail property acquired by KB Home Coastal is expected to generate significant returns for the buyer.
KB Home Coastal, led by Jeffrey Mezger, is a well-established player in the real estate industry. The company specializes in residential and commercial developments, with a focus on creating sustainable and innovative spaces. With this latest acquisition, KB Home Coastal further expands its portfolio and strengthens its presence in the El Cajon market.
City Ventures Homebuilding LLC, the seller in this transaction, is a reputable homebuilding company with a diverse portfolio of properties. The decision to sell the retail property aligns with the company’s strategic goals and allows them to focus on other projects. The $21.2 million sale price reflects the value and potential of the property, making it a lucrative deal for both parties involved.
The deal was facilitated by Kidder Mathews, a leading commercial real estate brokerage firm. With their expertise and extensive network, Kidder Mathews played a crucial role in bringing together the buyer and seller. Their knowledge of the El Cajon market and their understanding of the retail sector were instrumental in ensuring a successful transaction.
Overall, the sale of the retail property in El Cajon, California, highlights the continued growth and investment opportunities in the area. KB Home Coastal’s acquisition demonstrates their confidence in the market and their commitment to expanding their presence. With the support of Kidder Mathews, this deal sets a positive tone for future commercial real estate transactions in El Cajon.