As printed in the San Diego Daily Transcript

Growing Residential Leads to Booming Retail Development
By Stewart R. R. Keith, CCIM
First Vice President
FLOCKE & AVOYER Commercial Real Estate

The Eastern Chula Vista communities of EastLake, Otay Ranch, Rolling Hills, Sunbow and San Miguel Ranch have seen an explosion of growth over the past several years; so much so that Chula Vista was named the 7th fastest growing city in the United States by the Census Bureau for the period July 2001 through July 2002. This trend has no immediate end in sight as these communities are expected to add approximately 2,500 homes, or approximately 8,500 people, per year for the next several years. In addition, there are over 30,000 units still proposed to be built within the region.

This influx of new residents has created a strong demand for retail space and a tremendous opportunity 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 each have a "village center" where residents can walk, gather and shop. But 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, WalMart, Kohls, Lowes and Home Depot are all under construction and paving the way for over 900,000 square feet of new retail space in the next two to nine months. Residents can look forward to the convenience of everyday shopping in their own "backyards", to a nice dinner at one of the many restaurants or to enjoying a cup of coffee while relaxing in several outdoor plazas.

EastLake Village Marketplace
Sudberry Properties, Inc. is putting the finishing touches on the first of several new shopping centers proposed in EastLake. Expected to be completed in October '03, the Eastlake Village Marketplace (anchored by Target and Lowe's) is also proposed to include several of what could be classified as the communities' most sought after use, restaurants. For the past several years, residents of the area have been trying to attract restaurants and other dining options in the area. Soon, their wishes will be a reality as Islands Restaurant, Johnny Carinos, Miguels Cocina, Wendys, Starbucks, Cold Stone Creamery, Jamba Juice, Daphnes Greek Café, Bento Noodles Japanese Restaurant and Subway Sandwiches are all expected to call EastLake home. To compliment the dining experience, EastLake Village Marketplace will also include several outdoor seating areas including a large outdoor patio with shade trees, trellises, misters and an outdoor fireplace. Eastlake is a community in the true sense of the word and this outdoor patio was designed to provide people with a place to socialize, relax and enjoy each other's company and the beauty of the outdoors. The atmosphere created by this unique setting will further enhance the feeling of community within EastLake and the surrounding areas.

Eastlake Terraces/EastLake Village Center East
Gatlin Development Company has recently started construction on two exciting new shopping centers both of which are expected to be completed in the spring of 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 (anchored by Wal-mart and Home Depot) and EastLake Village Center East (anchored by Kohl's) will undoubtedly add many new and exciting retailers and restaurants to the area.

The addition of all three of these 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 Bay.