Premier Carlsbad neighborhood retail center trades hands for $91.3M

LOS ANGELES, May 29, 2026 –  JLL Capital Markets announced today that it has arranged the $91.3 million sale of The Beacon, a premier, 122,167-square-foot neighborhood lifestyle retail destination in Carlsbad, California.

JLL worked on behalf of the seller, Asana Partners. The buyer was 11 North Partners.

The Beacon is strategically located at 7720-7790 El Camino Real in the heart of Carlsbad, one of San Diego County’s most affluent submarkets. The Beacon serves an exceptionally affluent trade area with average household incomes exceeding $220,000 within a three-mile radius and a population of more than 97,000 residents. The surrounding neighborhoods boast median home values of $1.3 million within the primary trade area.

The center benefits from being located just off Interstate 5, which carries approximately 186,000 vehicles per day. The center is surrounded by more than 1,200 five-star luxury hotel rooms and coastal amenities making this one of the most highly visited retail destinations in all of San Diego County.

The lifestyle center was originally built in 1982 and underwent a comprehensive repositioning and renovation from 2020 to 2023. The Beacon comprises of 15.24 acres and is anchored by luxury fitness brand Equinox and features a curated tenant mix of national, regional and local retailers including Arhaus, Sweetgreen, Shake Shack, Jeni's Ice Cream, Pitfire Pizza and Lofty Coffee Co.

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Directors Geoff Tranchina and Gleb Lvovich and Managing Director Daniel Tyner.

“The Beacon is one of the best performing assets in San Diego, providing new ownership with opportunities to complete the lease up and create value over their ownership period,” said Tranchina.

"This asset demonstrates how thoughtful repositioning and tenant curation can generate strong interest without relying on traditional grocery anchors,” added Lvovich. “The Beacon's exceptional sales performance and strong NOI growth in this affluent submarket made it one of the most compelling retail opportunities we've brought to market."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.