July 13, 2017
An affiliate of San Diego-based American Assets Trust, Inc. acquired Gateway Marketplace, a 127,861-square-foot shopping center in Chula Vista, CA for $42 million. HFF marketed the Smart & Final- and Aldi-anchored property, on behalf of a partnership between Solana Beach, CA-based Brixton Capital and ALTO Real Estate Funds.
Gateway Marketplace was completed in 1997 and redeveloped in 2016. In addition to the dual grocery anchors, the 98.7%-leased center is also home to Party City, Hobby Lobby, Mattress Firm, Little Caesars and AT&T. The center is situated on 9.95 acres at 40 North 4th Ave, roughly seven miles from downtown San Diego and Tijuana.
HFF’s Gleb Lvovich and Bryan Ley handled the transaction, along with Retail Insite’s Mike Moser, who assisted as a local market contact.
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