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California  + San Diego  + Retail  | 

Paragon Real Estate Trades Chula Vista Retail for $15M

CBRE facilitated the $14.7-million sale of Heritage Towne Center, located at 1392-1394 E. Palmar St. in Chula Vista. The firm’s Reg Kobzi, Joel Wilson, Michael Peterson, Lane Robertson, Philip Voorhees and Joe Yetter represented Paragon Real Estate Investments in selling the retail property to Palomar Heritage LLC.

“Heritage Town Center is a perfect example of a stabilized retail asset,” said Kobzi. “The property has been 100% leased—even during the pandemic and will provide the buyer with stable and growing cash flow.”

The mixed-use project is located on 1.96 acres immediately across from Heritage Park. It consists of four retail buildings totaling 36,161 square feet. Built in 2002, the property is fully occupied with 21 tenants.

This is the fifth asset sold by Kobzi, Wilson, Peterson and Robertson on behalf of Paragon Real Estate Investments. Yetter initially sold the property to the seller in 2014 and leased the property.

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CBRE's Kobzi

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).

  • ◦Sale/Acquisition
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