SRS Arranges Sale of Newly Built Caliber Collision Property

SRS Real Estate Partners has completed the $5.24-million sale of a Caliber Collision property located at 742 Main Street in Chula Vista. The 16,832-square-foot property recently completed construction and has a 15-year corporate-guaranteed absolute triple net lease in place.

SRS Capital Markets Senior Managing Principals Matthew Mousavi and Patrick Luther and Vice President Greg Labarre represented the seller, a Southern California-based developer. The buyer was a family trust from Southern California.

The property is part of a new development that will feature Starbucks, Quick Quack Car Wash, Taco Bell, Circle K, and Chipotle, among other recognizable brands, all being separately marketed and available for sale by SRS with a total value of approximately $30 million. It is less than one mile from Interstate 805 and Chula Vista Crossings, a Kohl’s-anchored retail center.

“This property had a significant amount of investor interest and sold over the asking price, which was a 5.5% cap rate,” said Luther. “This long-term tenant is poised to do significant business as it is located near multiple auto dealerships and auto service retailers and is in a densely populated area with more than 348,200 residents, and 81,200 employees within a one-mile radius.”

Mousavi added, “This was an ideal, fee-simple, low-maintenance opportunity for the new owner as it presents minimal property management responsibilities.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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