JLL arranges $30.4M sale of fully leased retail asset in Chula Vista

ORANGE COUNTY, Calif., Aug. 11, 2026 - JLL Capital Markets announced today the $30.4 million sale of Terra Nova Plaza, a fully leased, 96,114-square-foot retail property positioned within a premier 301,000-square-foot regional shopping center in Chula Vista, California.

JLL represented the seller, a global investment manager, in the transaction. A public REIT acquired the asset.

Located at 390 E H St., Terra Nova Plaza sits within a high-performing grocery-anchored center that attracts more than 5.3 million annual visits. Dick's Sporting Goods operates from a 44,477-square-foot space, while Floor & Decor occupies 51,637 square feet 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.

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.

The JLL Capital Markets team was led by Senior Managing Director Gleb Lvovich, Managing Director Daniel Tyner and Senior Managing Director Geoff Tranchina.

"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."

"Infill anchored retail with long-term leases made Terra Nova Plaza a very attractive opportunity for investors today," added Tyner. "National credit tenancy alongside strong demographics of San Diego continues to drive strong demand."

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.