JUST SOLD! Parkway Shopping Center Sells for $6,800,000
March 25, 2021
JUST SOLD! El Cajon Retail Property, All Cash Deal Closed in 10 Days!
April 2, 2021
Disclaimer: I am not an attorney and this article is not intended as a substitute for advice from the appropriate legal, zoning, financial, construction and/or tax professionals. This information is provided for educational purposes only and is made without warranties or representations
It took 3 years to become an overnight success….
I first listed this La Mesa Retail Center in 2018 with the assignment of finding a new tenant to take over the center’s largest space. It was a huge opportunity for me at the time and I focused all of my attention on completing this one take, and ended up leasing the space before the old tenant even moved out.
The landlord was very impressed and decided to make me the exclusive representative for the property and I have since completed leases for almost every business at the center.
In late 2019 the owner had a death in the family and needed to sell the property in order to settle their estate. We first went on the market at the beginning of last year and ended up accepting an offer one week before the shelter in place order went into effect in California. Needless to say this deal, like all commercial real estate deals at the time, ended up cancelling.
I was now faced with the looming challenge of rehabilitating a La Mesa Retail Center in the middle of a pandemic with major economic uncertainty looming. I spent the last year working with the tenants to find workable solutions to get everyone paying rent again.
I am very excited to announce that I have officially sold the Parkway Shopping Center for $6,800,000. The largest deal of my career thus far!
For More Information: Erik Egelko | [email protected] | 805-415-1914
About Erik Egelko
Erik Egelko is a commercial real estate broker and Senior Vice President at SVN Vanguard, a national commercial real estate brokerage firm with offices in San Diego, Orange County and Los Angeles as well as over 220 offices throughout the United States. With roughly 10 years of experience in the industry, Egelko has built a reputation for himself as a dedicated and knowledgeable professional who strives to exceed his clients’ expectations.
In 2021 and 2022 Erik was inducted into the “Partner’s Circle,” the highest level of achievement for SVN. Erik is currently ranked in the top 1% of investment sale brokers nationwide.
Egelko’s approach to real estate is based on building long-term relationships with his clients, providing personalized service and attention to detail. He is committed to understanding his client’s needs and objectives and works tirelessly to ensure that they achieve their goals. If you own a commercial property and would consider listing it with a broker, give Erik a call at 805-415-1914.
