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Real Estate/Development

Mar. 5, 2016

Old Poway Village property sold for $6 million

Old Poway Village Center plans to add diversity to the current services available to the Poway community by enhancing the list of tenants as significant capital will be invested into renovating current vacancies.

Old Poway Village Center LLC recently purchased the 27,453-square-foot, multi-tenant retail and office space at 14005-14055 Midland Road for $6 million.

The buyers were represented by Mark Hoekstra and Rocco Cortese, managing directors at The Heritage Group. The property was acquired in a 1031 exchange and The Heritage Group will manage and lease the property.

"This property has untapped potential, which our buyer recognized immediately when it came to market," Cortese said. ...

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