Aug. 21, 2003
The eastern Chula Vista communities of EastLake, Otay Ranch, Rolling Hills, Sunbow and San Miguel Ranch have seen such an explosion of growth that Chula Vista was named the seventh fastest growing city in the United States. This trend is expected to continue as these communities are expected to add approximately 2,500 homes, or approximately 8,500 people, per year for the next several years and there are more than 30,000 units still proposed to be built within the region.
This influx of new residents has created a strong demand for retailers and restaurants. The lack of current and future competition has made the EastLake area one of the most sought after retail areas in all of San Diego County. Being a master-planned community, EastLake and the surrounding communities have a "village center" where residents can walk, gather and shop. Up until now, the residential growth has far outpaced the retail development.
The residents of the area won't be waiting much longer as Target, Wal-Mart, Kohl's, Lowe's and Home Depot are under construction and paving the way for more than 900,000 square feet of retail space in the coming months. Residents can look forward to the convenience of everyday shopping in their own "backyards," dinner at one of the many restaurants or just relaxing in several outdoor plazas.
Sudberry Properties Inc. is completing the first of several new centers proposed in EastLake. The EastLake Village Marketplace (Target/Lowe's) is proposed to include several of what could be classified as the communities' most sought-after use, restaurants. Soon, the residents' wishes will be a reality as Islands, Johnny Carino's, Miguel's, Wendy's, Starbucks, Coldstone Creamery, Jamba Juice, Daphne's Greek Café, Bento Noodles Japanese Restaurant and Subway are all expected to call EastLake home.
To complement the dining experience, EastLake Village Marketplace will also include several outdoor seating areas including a large patio with shade trees, trellises, misters and an outdoor fireplace. This large patio was designed to provide people with a place to socialize, relax and enjoy each other's company. The atmosphere created by this unique setting will further enhance the feeling of community within EastLake and the surrounding areas.
Gatlin Development Co. has recently started construction on two exciting new shopping centers both of which are expected to be completed in spring 2004. These projects have also been designed with outdoor plazas to further perpetuate the feeling of community. Although, the ultimate tenant mix is not yet known, the EastLake Terraces (Wal-Mart/Home Depot) and EastLake Village Center East (Kohl's) will undoubtedly add many new and exciting retailers and restaurants to the area.
The addition of all three shopping centers will be the final "pieces of the puzzle" to provide the residents of EastLake and the surrounding communities with the amenities they have longed for. As a result, EastLake will become "THE" shopping destination for all of South County.
Submitted by Stewart R. R. Keith, CCIM, first vice president of Flocke & Avoyer Commercial Real Estate.