Institutional Property Advisors Closes Grocery-Anchored Neighborhood Retail Center Sale in Suburban San Diego
October 02, 2026
EL CAJON, Calif., Oct. 1, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Main Street Marketplace, a 75,328-square-foot grocery-anchored retail center located at 1045-1099 E. Main St. in El Cajon, California. The property sold for $17.5 million on August 20.
“Anchored by Manolo Farmers Market through June 2040 with three five-year renewal options, Main Street Marketplace serves the daily needs of a dense, value-oriented East San Diego trade area,” said Enrique Wong, managing director investments in Marcus & Millichap’s Los Angeles office. Wong and IPA’s Tom Lagos, Patrick Toomey, and Jose Carrazana represented the seller, DPI Retail. The buyer, First Corner LLC, was the owner of the anchor tenant, Manolo Farmers Market. “The center generates 859,400 annual visits from 132,500 unique visitors who return every seven to eight weeks, reflecting genuine neighborhood dependency on grocery and essential services,” said Lagos.
Built in 1979 and continuously operated as a neighborhood retail center, Main Street Marketplace serves a trade area of 44,478 residents within one mile. The El Cajon Family Health Center, St. Madeleine Sophie’s Center, four schools, and government offices are nearby.
Manolo Farmers Market has anchored the shopping center since 1988 and with dd’s Discounts occupies 66.6% of the gross leasable area. Bellus Academy, D C Cleaners, Fresh Up Barber Shop, Total Vision El Cajon, Boost Mobile, Freeway Insurance, and El Cajon Eco Laundry round out the tenant roster. At the time of the sale, Main Street Marketplace was 94.7% occupied.
“Anchored by Manolo Farmers Market through June 2040 with three five-year renewal options, Main Street Marketplace serves the daily needs of a dense, value-oriented East San Diego trade area,” said Enrique Wong, managing director investments in Marcus & Millichap’s Los Angeles office. Wong and IPA’s Tom Lagos, Patrick Toomey, and Jose Carrazana represented the seller, DPI Retail. The buyer, First Corner LLC, was the owner of the anchor tenant, Manolo Farmers Market. “The center generates 859,400 annual visits from 132,500 unique visitors who return every seven to eight weeks, reflecting genuine neighborhood dependency on grocery and essential services,” said Lagos.
Built in 1979 and continuously operated as a neighborhood retail center, Main Street Marketplace serves a trade area of 44,478 residents within one mile. The El Cajon Family Health Center, St. Madeleine Sophie’s Center, four schools, and government offices are nearby.
Manolo Farmers Market has anchored the shopping center since 1988 and with dd’s Discounts occupies 66.6% of the gross leasable area. Bellus Academy, D C Cleaners, Fresh Up Barber Shop, Total Vision El Cajon, Boost Mobile, Freeway Insurance, and El Cajon Eco Laundry round out the tenant roster. At the time of the sale, Main Street Marketplace was 94.7% occupied.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.