Hobby Lobby to Anchor CA Retail Center

By Alex Ciorogar

The College Plaza

Hobby Lobby Stores Inc. is set to anchor College Plaza, a 150,000-square-foot shopping center in Oceanside, Calif., at the intersection between College Boulevard and Plaza Drive. Leasing more than 58,600 square feet, the company will fill a position previously held by Dick’s Sporting Goods. Other tenants include Grocery Outlet, Verizon, Starbucks and Wendy’s.

Cushman & Wakefield Managing Director Bruce Schiff and Retail Leasing Specialist Andrew Peterson represented the property’s owner and leaser, 95 College Plaza Ltd.

“This vacancy presented a rare anchor opportunity along North County’s Highway 78 Corridor. It was also a significant transaction for the greater marketplace as it represents one of the largest retail lease transactions in the past five years in the area,” said Peterson in a prepared statement.

According to a recent report, the retail vacancy in Oceanside was 5.7 percent in the last quarter of 2017, while the submarket recorded 110,000 square feet of occupancy growth in the second half of last year.

In another recent deal, Peter Sleiman Development Group acquired a 62,000-square-foot part of a retail center in St. Augustine, Fla., which was also anchored by Hobby Lobby and Sherwin Williams.

Photo via Google Street View