The buyer is a local private partnership known as Canyon Gateway Plaza LLC. The seller is another partnership, Chula Vista Canyon Plaza Ltd.
The project stands in the 500 block of Telegraph Canyon Road. It is anchored by a Vons supermarket and Rite Aid drugstore. Other tenants include Washington Mutual, Payless Shoes and Mission Federal Credit Union.
The market for retail property in the San Diego area has heated up, brokers say, as consumer spending remains strong and vacancies at most centers continue to drop. The San Diego office of Business Real Estate Brokerage Co./NAIrepresented buyer Canyon Gateway Plaza LLC. The San Diego office of Grubb & Ellis represented the seller.
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