Again, we are new in this industry and looking to grow and learn as well.

Entire industries have left the state due to inept state and local regulators. 

San Diego is expensive to Purchase, maintenance and cap ex is expensive, property tax at purchase is expensive in terms of dollars (average SFH prop tax at purchase is ~$1k/month in San Diego), new retail (MLS) purchases are negative cash flow when allocating properly for expenses, it is tenant friendly in terms of regulations but this is largely due to the big advantages LL have due to crazy low vacancy rates.  

Cupcake shops sprung up everywhere, the Food Network started their show, Cupcake Wars in 2009 (still on) and then.... a few years later industry consolidation after the run-up.

As she personally knows the syndicator she may be able to garner far more info in conversations with them about this and other investments, which can give her an informational asymmetrical advantage over 99% of retail investors as well.  

No-one is successful (outside of occasional tech start-ups) on revenue, especially when you are talking about real estate, a highly leveraged industry, and hospitality, a fairly low margin service industry.  

It looked all very nice, but, I made a comment that there was a lot of windows and it was very easy for people walking by to look insideThe agent told me that windows and open spaces were now industry standard gyms due to safety issues.

Hi All,I am looking to buy a retail commercial property and looking for options for loan.

I figured out the only two money making industries that don’t care about felonies (I have four) is hospitality and construction.

No, I don't buy retail.