Capstone Advisors celebrates completion of $2 million renovation of El Camino Square

A ribbon-cutting event was held on March 23 to celebrate the completion of a $2 million update of El Camino Square, according to a news release. The renovation modernized the outdated center located at the heart of Encinitas’ retail corridor on El Camino Real.

Real estate investment, development and advisory firm Capstone Advisors purchased the 27,499-square-foot shopping center in 2019 for $12.2 million and began renovations in August 2021. Updates to the property include a renovated exterior façade with architectural treatments and contemporary finishes, landscape enhancements including all street frontages, new signage and upgraded energy-efficient LED parking lot. Electric vehicle (EV) charging stations will be added by the end of the year.

The teams from White Construction and Capstone Advisors at the ribbon cutting for El Camino Square.

(Melissa Jacobs)

“This immediate area is our home, and for many of us at Capstone Advisors, this stretch of El Camino Real is our regular shopping area. It was extremely important to us that this renovation completely transformed the property into something that would be a real benefit to the local community,” said Alex Zikakis, president of Capstone Advisors in the news release. “Having managed numerous extensive renovations of retail centers across the country, we know the impact a successful renovation can have on the success of a shopping center and, more importantly, its tenants and their customers.”

The eight-month renovation took place during much of the COVID-19 pandemic and created more than 60 jobs for people in the area. Local area partners on the project included Architects Orange, White Construction, Inc., Hale Engineering, Vivo Landscape, M W Pelts + Associates and San Diego Electric Sign.

“Brick and mortar retail shops were some of the hardest-hit properties during the height of COVID-19 pandemic, but well-located and thoughtfully-designed properties have come back strongly as people appreciate the importance and convenience of physical retail,” said Encinitas Mayor Catherine Blakespear in the news release. “It’s impactful to see local companies invest in our city by improving infrastructure, creating jobs, and lifting up our businesses so our community can continue to flourish.”

New tenants to the shopping center include Drake Center for Veterinary Care, Correct Choice Dental, Asurion Tech Repair & Solutions, Footwear, etc. and NAILtoepia. Up to five suites are currently available for new tenants.