CBRE Facilitates Sale of CA Shopping Center
- Mar 15, 2019
SITE Centers—formally known as DDR Corp.—has sold Vista Village, a 195,000-square-foot entertainment-focused shopping center in Vista, Calif., to a Nevada-based investor. CBRE’s National Retail Partners-West Vice President Jimmy Slusher, Associate Eric Shain, Vice Chairman Philip Voorhees, along with San Diego-based Senior Vice President Reg Kobzi and his retail team represented both parties in the transaction.
Built in 2003, the center’s tenant roster includes Frazier Farms, Cinepolis, Pets Plus and Crunch Fitness. Located at 235-401 Vista Village Drive in a dense residential area, the shopping center also includes a 41-unit apartment community within the property. The asset benefits from frontage along Vista Village Drive and easy access to Highway 78.
“In addition to growing residential density around the asset, Vista Village offered a blend of traditional and experience-based tenancy alongside a high performing natural grocer, all in strong demand from investors,” Slusher said in prepared remarks. “The non-traditional site plan was complemented by a city-owned water park and served by a heavily trafficked light rail, making Vista Village a staple of the surrounding community.”
Last month, Slusher and Voorhees were part of the CBRE team that arranged the $80 million sale of the 430,000-square-foot Anaheim GardenWalk in Orange County.
Image courtesy of CBRE
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