Friday, June 5, 2026
The Shops at Parkway Plaza in El Cajon sells for $31.5M
JLL brokered the sale of the 122,484-square-foot property, which is adjacent to Parkway Plaza Mall in El Cajon.
Photo courtesy of JLL
The Shops at Parkway Plaza in El Cajon was recently sold for $31.5 million by a private seller. Its tenants include Texas Roadhouse and Best Buy.
The Shops at Parkway Plaza in El Cajon was recently sold for $31.5 million by a private seller. Its tenants include Texas Roadhouse and Best Buy.
The Shops at Parkway Plaza, a grocery-anchored retail center in El Cajon, has been sold for $31.5 million by a private seller, the real estate brokerage JLL announced June 5.
The 122,484-square-foot property is located at 149 Fletcher Parkway, adjacent to Parkway Plaza Mall, a regional shopping destination in East County.
The Shops at Parkway Plaza benefits from a dense population base of more than 169,000 residents within three miles, daily foot traffic generated by the adjacent mall, and excellent visibility and access from Interstate 8 and the San Vicente Freeway with more than 260,000 vehicles per day combined.
JLL represented the seller in the transaction. The buyer was a family office based in Texas.
The property is a grocery-anchored daily needs center with an investment-grade national tenant roster, including Best Buy, HomeGoods, Aldi, Texas Roadhouse and Applebee's. The property boasts strong sales performance and benefits from the close proximity to the greater Parkway Plaza Mall.
JLL's capital markets investment sales and advisory team representing the seller was led by managing director Daniel Tyner and senior managing directors Geoff Tranchina and Gleb Lvovich.
"Grocery-anchored neighborhood retail continues to perform extremely well and demand strong activity across multiple investor profiles," Tyner said in a statement. "Parkway Plaza offered investors a great opportunity to acquire a well performing daily needs center with NOI growth potential."
The center was 93 percent leased at the time of the sale.
"Parkway Plaza represents our second recent successful sale of a shopping center outparcel to a regional mall, demonstrating our expertise in navigating the complex structuring required for these transactions," Lvovich said. "The property generated significant investor interest across multiple capital sources, driven by strong mark-to-market upside from in-line space and excellent anchor tenant sales. These outparcel assets continue to offer a unique value proposition in today's market."
JLL's capital markets team is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory, and energy & infrastructure advisory.
The 122,484-square-foot property is located at 149 Fletcher Parkway, adjacent to Parkway Plaza Mall, a regional shopping destination in East County.
The Shops at Parkway Plaza benefits from a dense population base of more than 169,000 residents within three miles, daily foot traffic generated by the adjacent mall, and excellent visibility and access from Interstate 8 and the San Vicente Freeway with more than 260,000 vehicles per day combined.
JLL represented the seller in the transaction. The buyer was a family office based in Texas.
The property is a grocery-anchored daily needs center with an investment-grade national tenant roster, including Best Buy, HomeGoods, Aldi, Texas Roadhouse and Applebee's. The property boasts strong sales performance and benefits from the close proximity to the greater Parkway Plaza Mall.
JLL's capital markets investment sales and advisory team representing the seller was led by managing director Daniel Tyner and senior managing directors Geoff Tranchina and Gleb Lvovich.
"Grocery-anchored neighborhood retail continues to perform extremely well and demand strong activity across multiple investor profiles," Tyner said in a statement. "Parkway Plaza offered investors a great opportunity to acquire a well performing daily needs center with NOI growth potential."
The center was 93 percent leased at the time of the sale.
"Parkway Plaza represents our second recent successful sale of a shopping center outparcel to a regional mall, demonstrating our expertise in navigating the complex structuring required for these transactions," Lvovich said. "The property generated significant investor interest across multiple capital sources, driven by strong mark-to-market upside from in-line space and excellent anchor tenant sales. These outparcel assets continue to offer a unique value proposition in today's market."
JLL's capital markets team is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory, and energy & infrastructure advisory.
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