A 2,870-square-foot retail property in El Cajon has been sold for $1.5 million, according to a real estate brokerage.
“With the steady growth in consumer spending and the resilience of brick-and-mortar retail, demand for multi-tenant retail investment properties continues to surge as investors seek stable, long-term returns in today’s market.,” said Ross Sanchez, senior associate for the Totah Group in Marcus & Millichap’s San Diego Downtown office.
Two tenants occupy the site, Final Touch Nails, Hair & Spa and Subway, which has operated at the location since 1985 under the ownership of one of the nation’s largest Subway franchisees.
Sanchez and Nick Totah, senior vice president, represented the seller, Two Squared, LLC.
Marcus & Millichap (NYSE: MMI) is a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services.
