JLL Capital Markets has completed the $31.5-million sale of The Shops at Parkway Plaza, a grocery-anchored retail center totaling 122,484 square feet in El Cajon. JLL represented the private seller in the sale of the property. The buyer was a Texas-based family office.
The Shops at Parkway Plaza is located at 149 Fletcher Pkwy, adjacent to Parkway Plaza Mall, a regional shopping destination in East County San Diego. The property offers an investment-grade national tenant roster, including Best Buy, HomeGoods, Aldi, Texas Roadhouse and Applebee’s.
JLL Capital Markets’ Investment Sales and Advisory team representing the seller was led by managing director Daniel Tyner and senior managing directors Geoff Tranchina and Gleb Lvovich.
“Grocery-anchored neighborhood retail continues to perform extremely well and demand strong activity across multiple investor profiles,” said Tyner. “Parkway Plaza offered investors a great opportunity to acquire a well-performing daily needs center with NOI growth potential.”
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