By Tyler Faurot / Pt Loma-OB Monthly SDU-T / May 9, 2025
Following its acquisition in March by North Star Homes LP, some businesses at Point Loma’s Cañon Street Marine Center have closed or moved, with those that remain left in “limbo.”
The Marine Center includes two adjacent properties at 2810-2832 Cañon St. and 1101-1111 Scott St. At the time of the sale, the property was fully leased to nine tenants, and commercial real estate firm Intersection, which represented the seller, Cañon Street Properties, boasted the center had gone eight years with no tenant turnover.
But nearly two months into the new ownership, some businesses already have closed or relocated — though North Star Homes, which owns and operates other retail properties in San Diego County, plans to hold the Marine Center as a long-term investment and is expected to maintain it as a commercial center, according to Intersection and Strom Commercial, which represented North Star Homes in the purchase.
The catch is in the rent.
By Tyler Faurot / Pt Loma-OB Monthly SDU-T / May 9, 2025
Following its acquisition in March by North Star Homes LP, some businesses at Point Loma’s Cañon Street Marine Center have closed or moved, with those that remain left in “limbo.”
The Marine Center includes two adjacent properties at 2810-2832 Cañon St. and 1101-1111 Scott St. At the time of the sale, the property was fully leased to nine tenants, and commercial real estate firm Intersection, which represented the seller, Cañon Street Properties, boasted the center had gone eight years with no tenant turnover.
But nearly two months into the new ownership, some businesses already have closed or relocated — though North Star Homes, which owns and operates other retail properties in San Diego County, plans to hold the Marine Center as a long-term investment and is expected to maintain it as a commercial center, according to Intersection and Strom Commercial, which represented North Star Homes in the purchase.
The catch is in the rent.