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Leasing Notes

Noodles in Palomar Commons

Leasing Notes are updated twice weekly and are now available in a fully searchable database format at www.sddt.com/databases/leasingnotes/.
Retail: Noodles & Company (Nasdaq: NDLS) has leased 2,837 square feet of retail space at Palomar Airport Commons, 2521 Palomar Airport Road, Suite 6-107, Carlsbad 92011, from Sudberry Properties. The property was leased for 12 years at $2 million.

The lessee was represented by Danny Fitzgerald and Pasquale Ioele, of Cassidy Turley and Sharon Carmichael, of Terranomics Retail Services. The lessor was represented by Matt Moser, of Retail Insite.

The recently completed 185,000-square-foot community shopping center at Palomar Airport and El Camino Real is anchored by an approximately 155,000-square-foot Lowe's (NYSE: LOW) home improvement center.

Other tenants in the multi-building complex include California Bank & Trust, a 16-pump Acacia gas station and car wash and restaurants Chipotle's Mexican Grill, 5 Guys Burgers & Fries, Panera Bread, and Jersey Mike's (a 1,204-square-foot space, at 2521 Palomar Airport Road, for 10 years at $614,040 in late 2012). Fitzgerald, Ioele and Moser handed the Jersey Mike's transaction.

The community center was built on the approximately 16-acre site which had been occupied by the former Olympic Resort Hotel & Spa.

Office: Richard S. Prouse, DDS has leased 1,818 square feet of office space at 260 E. Chase Ave., El Cajon, 92020, from Chase Prescott Assoc. The property was leased for 20 months at $310,825.

The lessee was represented by Mark Robak, of Pacifc Coast Commercial.

The lessor was represented by Kyle Clark and Kipp Gstettenbauer, of Cushman & Wakefield.

The office is in the two-story, 16,000-square-foot Chase Professional Suites building at 250-260 E. Chase. The Class B medical office building was constructed in 1988.

Retail: Juan Escorcia has leased 1,668 square feet of retail space at 1180 Third Ave., Chula Vista, 91911, from Deutsch Chula Vista Oxford Center LLC.

The property was leased for 26 months at $51,400.

The lessee represented himself. The lessor was represented by Kipp Gstettenbauer and Kyle Clark, of Cushman & Wakefield.

Editor's Note: Leasing Notes for publication must contain the names of the lessee and the lessor; address (including street name and number, city and zip code); square footage; length of lease; lease terms such as NNN; financial consideration; proposed use of space (if not evident from name of lessee); and the names of brokers and their firms representing both the lessee and the lessor.

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