Grocery-anchored neighborhood center at Parkway Plaza trades for $31.5M

ORANGE COUNTY, Calif., June 5, 2026 –  JLL Capital Markets announced today that it has completed the $31.5 million sale of The Shops at Parkway Plaza, a grocery-anchored retail center totaling 122,484 square feet in El Cajon, California.

JLL represented the private seller in the sale of the property. The buyer was a family office based in Texas.

The Shops at Parkway Plaza is located at 149 Fletcher Pkwy, adjacent to Parkway Plaza Mall, a regional shopping destination in East County San Diego. The property 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 over 260,000 vehicles per day combined.

The Shops at Parkway Plaza 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 Capital Market’s 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. Parkway Plaza offered investors a great opportunity to acquire a well performing daily needs center with NOI growth potential,” said Tyner.

"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,” added Lvovich. “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 Capital Markets 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. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.