May 24, 2017
San Diego-based Sudberry Properties purchased 12.5 acres from Stratford Land for the development of Millenia Commons, a 131,800-square-foot lifestyle destination center at the gateway to Millenia in Chula Vista, CA. Terms of the transaction were not disclosed.
Millenia Commons is the primary retail component of the 210-acre Millenia master-planned community, an urban epicenter in South San Diego County. The site is located directly south of Otay Ranch Town Center, bordering Birch Road, and is visible from State Route 125.
Flocke & Avoyer have secured pre-lease commitments from HomeGoods, Cost Plus World Market, Ross Dress for Less, buybuy Baby, Mattress Firm, Hurricane Grill & Wings, Papagayos Grill & Cantina, Menchie’s Frozen Yogurt, Great Clips, Jamba Juice, McDonald’s and Pacific Dental Services.
Construction is planned to start this summer, with the grand opening anticipated in summer 2018.
NorthMarq Capital’s Mike Dobbins arranged $44.5 million in construction and preferred equity financing on behalf of Sudberry Properties.
For comments, questions or concerns, please contact Dennis Kaiser