July 9, 2015
Gatlin Development has sold a portfolio of nine shopping centers that span from Oceanside to Chula Vista for $185.3 million. The buyers were Citivest Commercial and Angelo, Gordon & Co.
Among the centers are Pacific Coast Plaza in Oceanside and Eastlake Terraces in Chula Vista. Rob Cord, an executive vice president at Voit Real Estate Services will be the portfolio manager.
Since many of the stores in the portfolio, such as Walmart and Kohl’s are tenant owned, the actual portfolio that the new owners purchased totals 523,123 square feet.
The centers were developed over 20 years and went on the market in May last year.