Crow Holdings sells part of shopping center in Chula Vista, Calif.

Crow Holdings has sold The Shops at Eastlake Terraces, a portion of a 363,300-square-foot community center in Chula Vista, Calif, to Gershman Properties for $47.8 million.

Newmark represented Crow Holdings in the transaction.

The Shops at Eastlake Terraces is anchored by Super Walmart and Home Depot, and also includes tenants such as Walgreens, Chase Bank, Chick-fil-A, Carl’s Jr., Starbucks, Navy Federal Credit Union, Supercuts and Rubios.

“San Diego remains one of the most sought after and desirable investment markets in the country,” said Rob Ippolito, a senior managing director at Newmark. “Continued residential and population growth coupled with tenant demand and limited supply will maintain this trend for the foreseeable future.”