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JLL arranges $30.4M sale of fully leased Chula Vista retail

The 96,114-square-foot Terra Nova Plaza is located within a 301,000-square-foot grocery-anchored shopping center that also houses Dick’s Sporting Goods and Floor & Decor under long-term leases.

Reported · Written up by our desk · Industry

ConnectCRE reports that JLL Capital Markets arranged the $30.4-million sale of Terra Nova Plaza, a fully leased retail property in Chula Vista.

The transaction covers 96,114 square feet within a 301,000-square-foot regional shopping center at 390 E H St., positioned in a grocery-anchored development, according to the report.

Dick’s Sporting Goods operates from a 44,477-square-foot space, and Floor & Decor occupies 51,637 square feet, with both tenants under long-term leases. Co-tenants in the larger center include Smart & Final, CVS, Marshalls, Chase Bank, Taco Bell, Jack In the Box, and Shell.

JLL managing directors involved in the deal said the property’s long-term lease security, freeway visibility, and proximity to a growth corridor made it compelling, adding that Chula Vista retail fundamentals remain supported by limited new supply and continued tenant demand.

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