Five major leases totaling approximately $45 million have been signed at a shopping center under construction in Chula Vista, Calif., the property’s developer announced this week.
Shea Properties inked leases for The Marketplace at Windingwalk, an approximately 106,000-square-foot retail center located in the city’s Otay Ranch neighborhood.
The leases include:
- Vons Supermarket’s lease of 55,985 square feet for 20 years;
- In-N-Out Burger’s ground lease of 35,000 square feet for 20 years — the actual restaurant building is 3,240 square feet;
- Bank of America’s 5,000-square-foot lease for 25 years;
- Wells Fargo Bank’s lease of 4,500 square feet for 20 years; and
- Oggi’s Pizza & Brewing Co.’s lease of 5,109 square feet for 15 years.
The Marketplace at Windingwalk is situated at the gateway to the village of Windingwalk, which is planned by Brookfield Homes and Shea Homes for approximately 2,300 residential units of which approximately 1,500 have already been built. Upon completion, Windingwalk will also include a new elementary school and junior high school. Windingwalk is expected to be completed in summer 2008.
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