Highpoint Capital Group of Tarzana has purchased an Imperial Beach retail center for approximately $10.5 million, according to brokerage firm NAI Capital’s Investment Services Group.
The seller of the three-building, 44,647-square-foot property, known as Silver Strand Plaza at 600 Palm Ave., was Silver Strand Plaza LLC. The seller was represented by NAI’s Chris Jackson and Todd Lorber.
Brokers said the property was built in 1990 and remodeled in 2015. It was fully leased by 27 tenants at the time of sale.
According to CoStar Group and public data, the seller is an affiliate of Calabasas-based Sherman Shrader Enterprises.