JLL Capital Markets Arranges $91.3M Sale of The Beacon Retail Center in Carlsbad, California
CARLSBAD, Calif. — May 29, 2026 — JLL has arranged the $91.3 million sale of The Beacon, a 122,167-square-foot neighborhood lifestyle retail center located at 7720–7790 El Camino Real in Carlsbad, California, the firm announced. JLL represented the seller, Asana Partners, in the transaction. The buyer was 11 North Partners.
The deal translates to approximately $747 per square foot.
Property Overview: A Repositioned Lifestyle Retail Destination
The Beacon sits on 15.24 acres just off Interstate 5, which carries approximately 186,000 vehicles per day. Originally built in 1982, the property underwent a comprehensive repositioning and renovation between 2020 and 2023.
The center is anchored by luxury fitness brand Equinox Capital Partners and features a curated mix of national, regional, and local tenants including Arhaus, Sweetgreen, Shake Shack, Jeni's Ice Cream, Pitfire Pizza, and Lofty Coffee Co.
JLL noted that The Beacon is surrounded by more than 1,200 five-star luxury hotel rooms and coastal amenities, positioning it as one of the more heavily trafficked retail destinations in San Diego County.
Affluent Trade Area
Carlsbad is described by JLL as one of San Diego County's most affluent coastal submarkets. According to JLL, average household incomes within a three-mile radius exceed $220,000, with a resident population of more than 97,000. Median home values in the primary trade area are approximately $1.3 million.
JLL Team and Transaction Commentary
JLL Capital Markets' Investment and Sales Advisory team representing Asana Partners 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," Lvovich added. "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."
Transaction Context
JLL's commentary references opportunities to "complete the lease up," indicating the center is not fully occupied and that the buyer has room to grow net operating income through additional leasing.
JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers, offering investment sales and advisory, debt advisory, mergers and acquisitions, corporate finance, loan sales, equity and fund placement, net lease, derivative advisory, and energy and infrastructure advisory services. The group has more than 3,000 specialists worldwide with offices in nearly 50 countries.
JLL (NYSE: JLL) reported annual revenue of $26.1 billion and operates in more than 80 countries with a global workforce of more than 113,000 as of March 31, 2026.