Updated Sep 14, 2026
Donald C. Wood Of Federal Realty Investment Trust Leases 148,000 Square Feet To Johnny Morris In La Mesa
5500 Grossmont Center Drive
Building Size
148,000 SF
Asset Type
Retail
Closing
Jul 6, 2026
About this deal
AI
The retail asset located at 5500 Grossmont Center Drive in La Mesa, CA, encompasses a total square footage of 148,000. This property is part of a $50 million mall redevelopment conducted by Federal Realty Investment Trust.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $50 million
- Landlord: Donald C. Wood - Federal Realty Investment Trust
- Tenant: Johnny Morris - Bass Pro Shops
- Location: Grossmont Center, La Mesa, CA
- Store Size: 148,000 square feet
- Job Creation: More than 150 jobs
- Opening Year: 2028
Donald C. Wood represents Federal Realty Investment Trust in this lease agreement, while Johnny Morris represents Bass Pro Shops. The retailer will occupy the space previously held by Macy's, marking its first presence in San Diego County.
On the Map
Retail
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Players
La Mesa Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93