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5/05/15
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Sycamore Terrace shopping center, a 10.5k sf retail property in the city of Vista, traded hands between investors. The property is located at 316 and 320 Sycamore Ave, at the intersection with Lobelia Dr. The price was not disclosed.
Built in 2006, the shopping center is 100 percent leased. It is anchored by Panda Express with six additional retail tenants, including Dental Services (doing business as My Kid’s Dentist), the U.S. Army and Fred Loya Insurance.
CBRE’s Senior Vice President, Reg Kobzi, and Senior Associate, Matt Shope, represented the buyer, Sycamore Terrace Vista CA LLC, and the seller, WS Sycamore Terrace LLC.
“Sycamore Terrace is a rare opportunity to purchase a single-level retail center in the densely populated and master-planned community of Vista,” says Kobzi. “This will limit future competition from new development or redevelopment, with extremely limited land remaining in this trade area.”
The site is adjacent to the 78 Fwy off-ramp and is located near North County Square Shopping Center. The center contains over 500k sf of space leased to tenants including Super Wal-Mart, Living Spaces, Babies R Us, Target, Old Navy, Petsmart, Ross Dress for Less, Chase Bank and Rubio’s.
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