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8/12/26
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Terra Nova Plaza, a fully leased, 96.1k sf retail property in Chula Vista, has traded for $30.4 mil ($316/sf). The property is located at 390 E H St, within a 301k sf, high-performing, grocery-anchored center.
Tenants include Dick's Sporting Goods, which occupies a 44.5k sf space, while Floor & Decor occupies 51.6k sf, 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, creating a diversified tenant mix that serves the affluent residential communities of Terra Nova and Rancho Del Rey.
Senior Managing Director Gleb Lvovich, Managing Director Daniel Tyner and Senior Managing Director Geoff Tranchina with JLL Capital Markets represented the seller, a global investment manager, in the transaction.
"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," Lvovich said. "Chula Vista's retail fundamentals remain strong with limited new supply and continued demand from quality tenants seeking high-traffic locations."
Chula Vista, the second-largest city in San Diego County with a population exceeding 285,000 residents, continues to experience robust economic and demographic growth. The immediate trade area is characterized by strong household incomes, with average household income exceeding $131,000 within a one-mile radius and average home values approaching $809,000.
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