Today, Primestor, the urban impact real estate investment and development firm, announces the acquisition of Chula Vista Center, an open-air regional shopping center featuring 32 acres and 490,000 sq. ft. of retail space in Chula Vista, California. The acquisition underscores the company’s continued investment in underserved communities.
Chula Vista Center marks Primestor’s re-entry into the San Diego market, highlighting the company’s focus on purpose-driven investment strategy to deliver transformational placemaking. The mixed-use property is located in a densely populated and high-traffic area with major nearby public infrastructure.
“Our mission has long been to serve communities through the built environment,” said Arturo Sneider, CEO and Co-founder of Primestor. “By investing in Chula Vista, we are committing to adding value to the community and strive to uplift local businesses, create new jobs, and prioritize local hiring, while creating a profitable investment for our stakeholders.”
Anchored by national retailers including Macy’s, Curacao, Burlington Coat Factory, destination entertainment offerings like AMC Theatre, and popular food and dining establishments such as BJ’s, Chick-Fil-A, Starbucks, and many more, the property provides an attractive base from which to build upon at the heart of the city. According to Placer.ai, Chula Vista Center attracts nearly 7 million visitors a year and is within the top 3% of shopping centers in the Nation.
Leandro Tyberg, President and Co-founder of Primestor noted, “Primestor believes in creating an open dialogue with Community and forging local partnerships to ensure that we serve everyone. We are excited to get to know our new neighbors and for them to learn more about how we will work together to make Chula Vista Center the center of town.