First Washington Realty

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First Washington Realty Acquires Torrey Hills Center in San Diego, California

by Meghan Moeltner posted at 6/11/21 4:43 PM

SAN DIEGO, Cal. – First Washington Realty (FWR), a national real estate investment and management company, announces the acquisition of Torrey Hills Center in San Diego, California. Torrey Hills Center offers vibrant and essential retailers such as Vons, multiple services, fast casual and sit-down dining options, and amenities such as an outdoor plaza, EV charging stations, and more.

Torrey Hills Center is located in the Del Mar Heights and Carmel Valley submarket, one of San Diego’s most affluent neighborhoods, where average incomes exceed $200,000. The shopping center benefits from desirable housing, excellent schools, and premier golf clubs and is directly adjacent to Torrey Hills Medical Plaza, a 44,091-square-foot, Class A medical office building.

“We are pleased to expand through an off-market transaction in one of the most dynamic metropolitan areas of the United States. We look forward to managing Torrey Hills Center and expanding our San Diego presence to four neighborhood centers” said Alex Nyhan, Chief Executive Officer of FWR.

“I am delighted to have worked with a terrific seller to secure this wonderful opportunity in my hometown,” said Sarah Ellis, Senior Vice President and head of FWR’s San Diego office.

Torrey Hills Center is a stabilized core asset that is currently 92% occupied. For local leasing inquiries, please contact John Jennings at Newmark.

First Washington Realty (FWR) is a fully integrated, national real estate investment and management firm that specializes in the ownership of essential retail real estate. FWR currently owns 105 shopping centers with a value of over $5.55 billion located in 22 states and the District of Columbia. Our centers contain approximately 13.9 million square feet with approximately 2,600 tenants. Headquartered in Bethesda, Maryland, First Washington Realty has regional offices in San Diego, Dallas, and Kansas City. For more information, visit www.firstwash.com.