6917 El Camino Real, Atascadero, CA 93422 For Sale

Colliers is pleased to present the opportunity to acquire the fee simple interest in Colony Square, a 47,555-square-foot theater-anchored retail center located at 6917 El Camino Real in the heart of Atascadero, California. Strategically positioned along the Highway 101 corridor, the Property benefits from strong regional accessibility and visibility within one of the Central Coast’s primary retail and commuter routes.

Currently 83% leased with nearly 6 years of weighted average lease term, Colony Square presents a compelling value-add opportunity through the lease-up of existing vacancy and the continued stabilization of the theater anchor, or alternatively, a longer-term redevelopment opportunity supported by the site’s central location and surrounding demand drivers. The existing tenancy and layout of the neighborhood retail center provide immediate in-place income with the ability to enhance cash flow through targeted leasing and operational improvements.

Positioned along California’s Central Coast midway between Los Angeles and the San Francisco Bay Area, San Luis Obispo County is anchored by the Highway 101 corridor and serves as a critical link between Northern and Southern California, supported by strong tourism demand, lifestyle appeal, and a stable residential base. The county supports approximately 281,824 residents with a median household income of $95,798, alongside more than $1.38 billion in annual food spending, including over $500 million in dining expenditures and approximately $501 million in entertainment and recreation spending, underscoring strong and diversified consumer demand.

Within this broader market, Atascadero serves as a key North County retail hub, capturing both local demand and regional traffic due to its proximity to major destinations such as Paso Robles wine country, downtown San Luis Obispo, and nearby coastal markets. This central positioning, combined with steady population growth, rising incomes, and consistent year-round visitation, reinforces durable retail fundamentals and long-term demand for convenience and service-oriented uses.

Colony Square offers investors a rare opportunity to acquire a well-located retail asset with near-term value creation potential and long-term development optionality within one of Central California’s most heavily trafficked retail corridors.