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Chula Vista’s Broadway Plaza Trades for $58.5M
Broadway Plaza, a 356,335-square-foot community retail center located in Chula Vista, CA, sold for $58.5 million. The buyer was Protea Properties LLC, and the seller was Kimco Realty.
Built in 1984 with the addition of the Walmart building in 2005, Broadway Plaza is situated on just over 32 acres at 1144 Broadway Ave. The center is 100% occupied by national retailers, including anchor tenants Walmart and Costco.
NKF’s Pete Bethea, Rob Ippolito and Glenn Rudy represented the seller. The buyer was self-represented.
Bethea says, “Broadway Plaza was a truly rare investment opportunity that delivered today’s retail investor its priorities of quality real estate, dynamic submarket, density, credit and durability. The fact that both Walmart and Costco were included in the sale, and that all buildings are contained on their own parcel, only advance the prospects of long-term ownership.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
