Collection of Vista Outparcel Pads Sold for $11M
The Shops at Vista Terrace Marketplace, a collection of three separate outparcels in Vista, traded hands for $10.67 million. The seller was Black Lion Investment Group, while an unnamed high-net-worth private investor acquired the pads.
The fully-leased properties total 15,808 square feet. The outparcels were renovated in 2019 and are triple net leased on a long-term basis to a variety of national, service-oriented credit tenants. Shops at Vista Terrace Marketplace is situated on 2.72 acres at 1220, 1260 and 1310 E. Vista Way.
JLL’s Daniel Tyner and Gleb Lvovich marketed the property on behalf of the Los Angeles-based seller.
Lvovich says, “The retail market continues to show signs of strength and bifurcation, with the best assets commanding strong pricing despite the events surrounding COVID-19. Net-leased real estate with a superior credit profile and essential tenancy is as strong as ever.”
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