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February 24, 2018
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SOUTHERN CALIFORNIA NEWS
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Hobby Lobby Inks Lease for 59k sf Store in Oceanside

2/07/18

Hobby Lobby has inked a lease for a 58.6k sf store at College Plaza shopping Center in Oceanside. Terms of the lease were not disclosed.

The arts and crafts specialty retailer will backfill a significant anchor-tenant vacancy previously occupied by Dick’s Sporting Goods. Dick’s had vacated its space in College Plaza back in fall of last year, relocating that store to Pacific Coast Plaza also in Oceanside in the former Sports Authority location.

Located at the southeast corner of College Blvd and Plaza Dr., College Plaza is a 150k sf center highly visible from Hwy 78 and conveniently located directly off of the College Blvd interchange. Other tenants include Grocery Outlet, Verizon, Starbucks, and Wendy’s.

College Plaza is owned by 95 College Plaza LTD, which was represented in the transaction by Bruce Schiff, CCIM, and Andrew Peterson with Cushman & Wakefield. According to Peterson, this was one of the largest retail lease transactions in the past five years along the Highway 78 Corridor.

With more than 800 stores, Hobby Lobby is the largest privately owned arts-and-crafts retailer in the world with approximately 32,000 employees and operating in forty-seven states. Hobby Lobby is primarily an arts-and-crafts store but also includes hobbies, picture framing, jewelry making, fabrics, floral and wedding supplies, cards and party ware, baskets, wearable art, home accents and holiday merchandise.

According to Cushman & Wakefield’s year-end market report, retail vacancy in Oceanside was a healthy 5.7% in the fourth quarter of 2017, as this submarket reported nearly 110k sf of occupancy growth in the second half of the year.




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