A Los Angeles-based real estate firm that has spent the past 15 years focused on residential projects is reentering the retail sector with the purchase of what is said to be an extremely healthy shopping center in Mira Mesa. Thursday, Decron Properties announced that it purchased the 238,747 square-foot Mira Mesa Marketplace West shopping center at 10604 Westview Parkway from Stockbridge Capital Group, LLC for $99 million.
Prior to the Great Recession, the privately held firm's portfolio also included a number of retail assets, but the company shifted to mostly residential assets — selling off all but three retail properties — to weather the financial turbulence of the period, Nagel said. ' kept reminding us over the last year or two, 'Retail is back. Shopping centers are full. They're staying full. Those guys that had financial issues, they've survived.