A fully leased retail asset has recently hit the market in San Diego. Situated at 15731 Bernardo Heights Pkwy in the supply-constrained Rancho Bernardo community, the property is known as Bernardo Heights Plaza and features 37,729 square feet of retail space.
The property is listed for sale by Reza Investment Group Inc.’s Aaron Bettencourt and Ramez Barsoum with pricing guidance undisclosed. Public records indicate that the property is currently owned by an entity affiliated with Wild Oats Markets Inc ROI California LLC.
The shopping center is largely occupied by Sprouts Farmers Market, occupying 23,786 square feet. Sprouts also recently extended its lease through 2030. Sprouts is one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the U.S. The company employs approximately 31,000 team members and operates more than 400 stores in 23 states.
Other tenants include Pacific Dental, Valentine’s Nails and Spas, Spices of the Himalayas and Phenix Salon Suites.
Located at the signalized intersection of Bernardo Heights Parkway. and Pomerado Road, Bernardo Heights Plaza is nestled within the master-planned community of Rancho Bernardo. This 3.22-acre property is surrounded by affluent neighborhoods, including Carmel Mountain Ranch, Rancho Penasquitos and Poway, with average household incomes of approximately $141,180 and $146,799 within a one- and three-mile radius, respectively. With a 100 percent occupancy rate and a market vacancy factor of only two percent in the competitive set, Bernardo Heights Plaza is a stable investment in a thriving retail submarket, the listing states.
