Retail Center in San Marcos on Twin Oaks sold

Published on 11/21/14, The San Diego Daily Transcript View Article

The 21,865-square-foot Twin Oaks Town Center at 403-409 N. Twin Oaks Valley Road, San Marcos 92108, has been sold for $5.25 million.

The buyer was Oda LLC, 8376 Alpine Ridge Road, San Diego 92129. Rong He is managing member of Oda. The acquisition was financed with a $3 million loan from East West Bank through Alex Hu.

The seller of the property (assessor's parcel 220-050-45) was TMACK LLC, with Terry Lathrum as the manager.

The buyer was represented by Lee Suryani and Bo Gibbons, of Pacific Coast Commercial and attorney Stella M. Shih, of SMS Law Firm. The seller was represented by Andrew Peterson, Bruce Schiff and Phil Lyons, of Cassidy Turley. Escrow services were provided by Della DuCharme's team at Chicago Title. Title services were provided by Mark Brady’s team, also at Chicago Title.

The center has 13 suites ranging from 950 to 2,450 square feet and was 88 percent leased at the time of sale. Major tenants include 7-Eleven, Papa John's, and Jazzercise.

The center was developed by the seller in 2006 on 4.83 acres. Pacific Coast Commercial has been retained to handle property management and leasing.