JLL arranges $9.45M sale of Shops at Edgewater in Sand City

SAN FRANCISCO, Sept. 29, 2026 - JLL Capital Markets announced the $9.45 million sale of Shops at Edgewater, a 25,223-square-foot retail property located at 2080 California Ave. in Sand City, California.

JLL represented the private seller in the transaction. Sand City Holdings LLC acquired the asset with representation from Tim Sotoodeh, Ryan Rostami and Rustin Rostami.

Shops at Edgewater is a fully leased multi-tenant retail building situated within Edgewater on Monterey Bay, a dominant regional shopping destination serving Monterey County and the broader Central Coast along Highway 1. The property is 100% leased to ULTA Beauty, Panera Bread, Mancini's Sleepworld and a Bank of America ATM. Recent lease extensions with key tenants provide long-term income stability and reinforce the property's position as a leading daily-needs retail destination.

Located directly along California Avenue with unobstructed visibility from Highway 1, the property offers convenient access to Monterey, Seaside, Marina and surrounding coastal communities such as Carmel-by-the-Sea. As part of the larger Edgewater on Monterey Bay shopping center, Shops at Edgewater benefits from strong retail synergy generated by national retailers including Target, Lucky, Ross Dress for Less, HomeGoods and PetSmart. The property's tenant mix serves both local residents and regional visitors to the Monterey Peninsula.

The Monterey Bay region is supported by a diverse economic base that includes tourism, higher education, agriculture, healthcare, government and military-related employment. The property's trade area includes more than 93,000 residents within a five-mile radius and is characterized by strong household incomes of over $130K, significant consumer spending power and a steady influx of visitors. Demand is further supported by the world-renowned destinations such as the Monterey Bay Aquarium, Pebble Beach Golf Links, and the peninsula's reputation as one of California's premier coastal destinations.

The JLL Capital Markets team was led by Managing Director Eric Kathrein and Director Andrew Spangenberg, along with Associate Allie Repaskey.

"Assets like Shops at Edgewater rarely come available given their confluence of necessity-based retail, established tenancy and an irreplaceable coastal location," said Spangenberg. "The acquisition reflects persistent demand from private investors seeking durable income streams backed by fundamentally strong real estate."

JLL's Capital Markets group 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. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.