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News release

SAN DIEGO, CA

Jones Lang LaSalle to Handle Final Lease-Up of Prominent San Diego Shopping Centers

Brokers help Regency Centers and World Premier Investments / United American Properties recruit right mix of tenants


SAN DIEGO, Feb. 4, 2013 – Jones Lang LaSalle Vice Presidents of Retail Brokerage Bryan Cunningham and David Thomas will recruit small shops and restaurants to three North County San Diego shopping centers on behalf of owners Regency Centers and partners World Premier Investments and United American Properties. The thriving centers, Grand Plaza, Nordahl Marketplace and El Norte Parkway Plaza, all have strong anchor tenants and are approximately 95 percent occupied.

  • Grand Plaza, a 356,600-square-foot community center located in San Marcos, Calif., features Nordstrom Rack, Bed, Bath & Beyond, Sport Chalet, Marshalls, Petco and Sprouts Farmers Market. Owned by World Premier Investments and United American Properties and managed by NewMark Merrill Cos. Grand Plaza is the premier retail destination along the 78 Corridor.

  • Nordahl Marketplace, a 512,860-square-foot power center located in San Marcos, Calif., anchored by Walmart, Kohl’s and Guitar Center. Owned by World Premier Investments and United American Properties and managed by NewMark Merrill Cos. Nordahl Marketplace has excellent access and visibility to State Route 78 and I-15 Freeway.

  • El Norte Parkway Plaza, a 90,550-square-foot strip center located in Escondido, Calif., anchored by Vons. Owned and managed by Regency Centers. El Norte Parkway Plaza is the dominant grocery destination for its trade area.

“San Diego’s retail vacancy rate is low compared to the national average, and delivery of new space is limited. On a micro level, finding the right mix of tenants for these centers will be important for maintaining their places in their communities as go-to, diverse retail destinations with great occupancy levels,” said Cunningham. “We will focus on retail, service and restaurant tenants to generate daily traffic and create a dynamic shopping experience.” 

For Nordahl Marketplace, once such service is a day care facility. Nordahl has a 7,000-square-foot-space available that is well suited to such a use.

Jones Lang LaSalle is a leader in the San Diego commercial real estate market. The firm employs approximately 120 of the area’s most recognized industry experts offering services in brokerage, capital markets, facility management and project development services. In 2011, the San Diego team completed 3.74 million square feet in lease transactions and directed $34.5 million in project management and currently leases and/or manages more than 5.5 million square feet in the market.

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About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.