Vista CA— Retail Insite announces the sale of three pad buildings at Vista Terrace Marketplace in Vista, CA. The pads, comprised of O’Reilly Auto Parts, Dunkin Donuts, AT&T, and Verizon Wireless, were sold for $10,585,000 at a 5.37% CAP Rate. Brian Pyke and Connor Stevens with Retail Insite aided Daniel Tyner and Gleb Lvovich of JLL in the listing effort.
Retail Insite was retained nearly four year ago by Black Lion Investment Group to cast a vision for a dilapidated strip center in north Vista. Over time, the team systematically went to work and focused their efforts on attracting an anchor to the project. In consummating a challenging BTS deal with Sprouts Farmers Market, the snowball was formed and began to move downhill. From there, deals were finalized with Dunkin Donuts, AT&T, Verizon Wireless, Anytime Fitness, Jersey Mike’s, Sport Clips, and others.
“What began as an uphill battle with challenging market and building conditions turned into a really neat project to work on. Vista Terrace Marketplace (VTM) became a case study in creative thinking, shaping a narrative based on the promise of what’s to come, deep diving into mobile and data analytics to support the narrative, and executing the game plan. Black Lion Investment Group was a determined and nimble Landlord Partner and we really enjoyed working with them throughout the entire process – from lease-up to disposition.” said Brian Pyke of Retail Insite.
Black Lion still owns two pads and the back shop building and has retained Retail Insite to finish out the leasing efforts.
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. www.retailinsite.net