A big chunk of Liberty Station has been sold by The McMillin Co. to Pendulum Property Partners based in Irvine in partnership with The Seligman Group based in Michigan.
The purchase price was not disclosed.
The deal covered 327,000 square feet of retail space in Liberty Station, including the historic North Chapel, a nine-hole golf course and space leased to Liberty Public Market Food Hall, Stone Brewing World Bistro & Gardens, El Jardin, Corvette Diner, Moniker General, Slater’s 50/50, Trader Joe’s, Vons and Starbucks.
McMillin will continue to own one hotel site, two hotels under construction and some office space.
Additional property owners unaffected by the purchase include NTC Foundation, the Rock Church, High Tech High and homeowners within Liberty Station.
Pendulum Property Partners said in a news release that they planned on “upgrading the tenant mix as leases expire” and making improvements to common areas.
“The end goal is to enhance the overall Liberty Station experience for the consumer and the surrounding community,” the company said.
The 360-acre former Naval Training Center was closed in 1997 and McMillin was awarded a lease by the city of San Diego to develop the property.
Earlier this year, Pendulum Property Partners acquired the 327,000 square-foot StoneCrest office campus in Kearny Mesa.