Sears Property Sold in Escondido

La Caze Development Co. has purchased the site of the Sears store in the Escondido Village Mall for $2,361,000 from Sears Roebuck & Co., which has occupied the store since the center opened.

La Caze had previously acquired the 500,000-square-foot mall, although the original purchase did not include the Sears site. The firm completed an extensive remodeling of the center and it is currently 85% leased.

The Sears site, negotiated by the downtown San Diego office of Coldwell Banker Commercial Real Estate Services, will be remodeled for a 204,000-square-foot Fedco store.

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