Located at the southwest corner of Otay Lakes Road and Eastlake Parkway in Chula Vista, Eastlake Village Center South is currently 97% occupied.
Included in the offering are Blockbuster Video, H & R Block, Allstate Insurance, Fantastic Sam's, and Cal Fed Bank. A 380,000 sf community center anchored by Target and Lowe's Home Center is proposed for development immediately to the north. A Wal-Mart is currently planned for development in early 2004 approximately one mile south of Eastlake Village.
"The Eastlake community is booming. The housing starts are incredible. Over the next 10 years the area is expected to add 20,000 new homes," says Joe Dykstra, executive vice president of Los Angeles-based Westwood.
The property was purchased from the Eastlake Company LLC, a California limited liability company that is the sole developer of Eastlake. Stewart Keith of Flocke & Avoyer Commercial Real Estate represented the seller.
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