Irvine’s Crown Buys Oceanside Mall for $6.2M
Irvine-based Crown Realty & Development Corp.’s $6.2 million buy of an Oceanside shopping center marks its first acquisition in San Diego County.
Eight-year-old Crown bought the 88,000-square-foot Oceanside Town & Country Shopping Center from the Nobb Family Trust.
Crown says it hopes to acquire $100 million of property in the next 12 months. About $10 million to $20 million of that amount will be in San Diego County, according to the company.
Nobb was represented by Roger Niez, Jack Carroll and Burton Young of Sperry Van Ness. Crown represented itself.
The mall, on the southeast corner of Oceanside Boulevard and Interstate 5, was built in 1971. It’s anchored by a Vons grocery store and a Longs drug store.
Crown will renovate the property over a two- to three-year period and rename it Oceanside Crossings.
Privately held Crown has $400 million of retail and office property in Orange and Los Angeles counties.
,Mandy Jackson, a staff writer at the San Diego Business Journal.
