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Terra Nova Plaza sells for $30.4 million in Chula Vista
The 96,114-square-foot retail asset was fully leased and positioned within a 301,000-square-foot regional shopping center anchored by a grocery tenant.
JLL Capital Markets arranged the sale of Terra Nova Plaza, a fully leased retail property in Chula Vista, for $30.4 million, according to ConnectCRE.
The deal covers 96,114 square feet of retail space within a 301,000-square-foot regional shopping center at 390 E H St., which is described as grocery-anchored.
The property’s long-term leases include Dick’s Sporting Goods in a 44,477-square-foot space and Floor & Decor occupying 51,637 square feet, with additional co-tenants across the larger center such as Smart & Final, CVS, Marshalls, Chase Bank, Taco Bell, Jack In the Box, and Shell.
JLL Capital Markets’ Gleb Lvovich said the combination of lease security, freeway visibility, and proximity to Chula Vista’s residential growth corridor supported the appeal, adding that retail fundamentals remain strong amid limited new supply and continued demand from quality tenants.