Vista CA— Vista Terrace Marketplace, a redevelopment project at the NWC of Bobier Dr. and E. Vista Way in Vista, CA, has just secured its anchor tenant—Sprouts Farmers Market. Understanding the quickly evolving area of Vista, Black Lion Investment Group (https://blacklionig.com/) out of Los Angeles purchased the existing 48,000 SF retail center at 1280-1350 E. Vista Way in the Fall of 2016. Led by the sharp foresight of its President, Robert Rivani, the company then pursued a 2.5-acre parcel of land directly adjacent to the project to complete Black Lion’s vision of making the development into a modern and desirable marketplace for all residents and businesses in the trade area.
In keeping with Rivani’s reputation for decisive execution in transforming underperforming properties into new thriving community destinations, Black Lion strategically hired Brian Pyke and Don Moser of Retail Insite to handle the redevelopment leasing. Within months the team had secured a 15-year lease with Sprouts for the 2.5 acres of land and a 20-year lease with Dunkin Donuts for one of the outparcel pads. They are in negotiations with numerous retailers, restaurants, and shop/pad tenants for the remaining vacancies.
Black Lion plans on creating a synergistic and modern multi-million dollar reposition of the asset. The redevelopment comprises of four pad buildings, refacing inline and end cap shop space, creating restaurant-ready suites with patios, and building the Sprouts anchor building. Completion of the project will come in stages, with the first phase set to be completed in early 2018.
Sprouts is slated for a Q4 2018 opening.
Retail Insite will continue to handle the leasing of the project and remains excited to work on an asset that continues to improve the changing landscape of north Vista.
About Retail Insite
Retail Insite is a boutique commercial real estate firm with a passion for retail and people. Since 1996, we’ve partnered with the best retailers and property owners in Southern California. Our success comes from aligning ourselves with our clients’ goals and always finding a way to win. Our regional street by street, block by block expertise is what creates long-term success for our clients.
Here at Retail Insite, we help each retailer connect with their customers. It’s a simple truth: the majority of amazing opportunities are not on the market. We combine our local expertise, creative thinking, and initiative to deliver outstanding rollouts for our retail clients. We dive in, get to know your customer, and match that with our market knowledge.