Fully Leased Chula Vista Retail Fetches $30M

JLL Capital Markets arranged the $30.4-million sale of Terra Nova Plaza, a fully leased, 96,114-square-foot retail property positioned within a 301,000-square-foot regional shopping center in Chula Vista. Senior managing director Gleb Lvovich, managing director Daniel Tyner and senior managing director Geoff Tranchina. represented the seller, a global investment manager.

Located at 390 E H St., Terra Nova Plaza sits within a high-performing grocery-anchored center. Dick’s Sporting Goods operates from a 44,477-square-foot space, while Floor & Decor occupies 51,637 square feet under long-term leases. Co-tenants within the larger center include Smart & Final, CVS, Marshalls, Chase Bank, Taco Bell, Jack In the Box and Shell.

“The combination of long-term lease security, exceptional freeway visibility and proximity to one of the region’s most dynamic residential growth corridors made this an extremely compelling opportunity,” said Lvovich. “Chula Vista’s retail fundamentals remain strong with limited new supply and continued demand from quality tenants seeking high-traffic locations.”

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