SAN DIEGO – May 4, 2015 – CBRE announced the sale of the Sycamore Terrace shopping center, located at 316 and 320 Sycamore Avenue in Vista, for an undisclosed price. 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.
Built in 2006, the shopping center has a total of 10,543 square feet and 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.
“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 located at the commercial intersection at Lobelia Drive and Sycamore Avenue. It is adjacent to the 78 freeway off-ramp and is located near North County Square Shopping Center with over 500,000 square feet 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.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.