The buyer is a local private partnership known as Canyon GatewayPlaza LLC. The seller is another partnership, Chula Vista CanyonPlaza Ltd.
The project stands in the 500 block of Telegraph Canyon Road. Itis anchored by a Vons supermarket and Rite Aid drugstore. Othertenants include Washington Mutual, Payless Shoes and MissionFederal Credit Union.
The market for retail property in the San Diego area has heatedup, brokers say, as consumer spending remains strong and vacanciesat most centers continue to drop. The San Diego office of BusinessReal Estate Brokerage Co./NAIrepresented buyer Canyon Gateway PlazaLLC. The San Diego office of Grubb & Ellis represented theseller.
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