CBRE Arranges $3.7M Sale of Multi‑Tenant Retail Property in Santee, California

Why It Matters

The transaction highlights continued investor confidence in secondary‑tier Southern California retail assets, where high occupancy can deliver reliable cash flow despite broader market volatility.

Key Takeaways

• Sale price $3.7M for 16,390 sq ft, 90% leased
• Property sits on 1.1 acre parcel in Santee, near San Diego
• Transaction handled by CBRE, showcasing its regional brokerage strength
• Buyer Burggraf Family Trust expands its Southern California retail portfolio
• High occupancy suggests stable cash flow in a competitive market

Pulse Analysis

Southern California’s retail landscape remains resilient, driven by a mix of population growth and limited developable land. Santee, located just 18 miles from downtown San Diego, benefits from a growing suburban consumer base and easy freeway access, making it attractive for multi‑tenant centers. The 1.1‑acre site’s 90 percent occupancy signals that landlords can maintain strong lease rates even in secondary markets, a trend that investors watch closely when allocating capital across the region.

CBRE’s involvement underscores its deep network and expertise in navigating complex retail transactions. By coordinating between Calgary Development’s affiliates and the Burggraf Family Trust, the firm secured a $3.7 million price that reflects both the property’s income stability and the buyer’s strategic intent. The presence of seasoned brokers—Reg Kobzi, Michael Peterson, and Lane Robertson—ensured thorough due diligence, while St. Rocco Properties facilitated the buyer’s entry, illustrating how collaborative brokerage can accelerate deal flow in competitive environments.

For investors, the sale offers a blueprint for targeting well‑leased, modest‑size assets that deliver predictable returns. High occupancy rates reduce vacancy risk, and the modest purchase price relative to comparable San Diego‑proximate properties suggests upside potential through rent escalations or selective tenant upgrades. As e‑commerce pressures persist, brick‑and‑mortar retail that serves everyday needs—grocery, services, and local shops—continues to attract capital, positioning properties like the Santee center as steady contributors to diversified real‑estate portfolios.

Deal Summary

CBRE facilitated the sale of a 16,390‑sq‑ft multi‑tenant retail building on 1.1 acres in Santee, California. Affiliates of Calgary Development sold the property to Burggraf Family Trust for $3.7 million. The transaction was represented by CBRE for the seller and St. Rocco Properties for the buyer.