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Chula Vista Net-Leased Asset Trades for $10M
A 42,000-square-foot net leased commercial building in Chula Vista traded hands for $10 million. The buyer was FUGU, LLC and the seller was Orange County-based G8 Commercial Fund, LLC.
The single-story property is located on a 3.42-acre lot at 1261 Third Ave. on the west side of Chula Vista. The concrete block building was originally constructed in 1975 with a multi-million-dollar renovation executed in 2019. Current tenants include Samsung Semiconductor and the national vocational school UEI College, which has experienced substantial enrollment growth in 2020.
Voit Real Estate Services’ Robert Vallera, CCIM, represented the buyer. CBRE’s Matt LoPiccolo and Matt Pourcho represented the seller. C2 Commercial’s David Temko arranged the acquisition financing in the amount of $4,995,000.
LoPiccolo says, “The vocational and trade school sector consistently experiences increases in enrollment during recessionary economic environments, making this asset particularly desirable due to the stability provided by UEI College.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
- ◦Lease


