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.”

Inside The Story

JLL's Lvovich

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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