Another retail asset has been added to the market in the San Diego metro area. According to a property listing from JLL, a significant portion of Terra Nova Plaza, a regional shopping center in Chula Vista, is up for sale. .
The property, spanning 96,114 square feet within the larger complex, is located at 390 E H St. While pricing guidance for the property is undisclosed, public property records show that the site last traded hands in 2014 for $21.85 million. The property is currently owned by an entity affiliated with Sports Authority Inc. R P T Terra Nova Plaza LLC.
The 310,000 square foot Terra Nova Plaza is home to a mix of tenants, including Dick’s Sporting Goods, Smart & Final, CVS, Marshall’s, Petco, and others. The property is currently 46 percent occupied, and there is also an opportunity to lease up or redevelop 51,637 square feet of box space, previously occupied by Bed Bath & Beyond.
Situated off the I-805 Freeway and H Street, Terra Nova Plaza enjoys exceptional visibility, with over 310,000 vehicles passing the site daily. Boasting rare north and southbound freeway access and intersecting with major freeways like I-5, I-8, and SR-94, the property offers accessibility for both local and commuter traffic.
Chula Vista, home to over 279,170 residents with average household incomes exceeding $93,000, provides a robust customer base as well.
