Plaza De Acacias, the village’s multi-tenant retail property, sold

Urban Property Group has announced the sale of Plaza De Acacias, the 13,620-square-foot retail building in the Rancho Santa Fe village. Located on the corner of Avenida De Acacias and El Tordo, the property was put on the market in March and sold for $19.5 million.

Plaza De Acacias has long been anchored by Wells Fargo Bank, Union Bank, and Banc of California. With 46 parking spaces, Plaza De Acacias also has one of the only parking lots in the village.

Bill Shrader and Joe Brady of Urban Property Group represented both the seller, MGPIX Properties, LLC, and buyer, RSF REI Holdings LLC.

“Plaza de Acacias is an iconic property with strong historical tenancy,” said Shrader in a news release. “The property’s ideal combination of prime location, consistent income stream, and potential redevelopment upside provides new ownership a strong foundation for future success.”