San Diego-based Beacon Realty Advisors, in partnership with Charlotte-based Carolina Capital Real Estate Partners, has acquired Jefferson Square, a partially built, open-air retail center in La Quinta. Regency Centers, the original developer, sold the asset for an undisclosed price.
Located at Fred Waring Drive and Jefferson Street, Jefferson Center is situated on approximately 10 acres. A CVS pharmacy currently anchors the property.
Beacon plans to pursue a grocery, home improvement or medical tenant to occupy the existing vacant 14,000-square-foot box space. The Jefferson Center site features a fully constructed infrastructure with only half of the land fully developed.