California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


California  + San Diego  + Office  | 

Protea Properties Locks Down Five-Property Portfolio

Five properties totaling 231,878 square feet were recently purchased by Protea Properties LLC for $47 million. This portfolio, with a history of strong occupancy and rent growth, has been owned and managed by Carleton Management Company for more than 20 years.

“We were fortunate to have substantial interest in this portion of our portfolio and are honored that Protea, a first-class high-caliber organization, will continue to steward these assets,” says Jeff Silberman, president/CEO of Carleton Management.

Four of the properties are located in Chula Vista and one office building is located in Mission Valley.

  • 630 Bay Blvd. is a 100 percent leased freeway visible industrial/showroom building totaling 48,828 square feet on 2.79 acres
  • 660 Bay Blvd. is a 100 percent leased two-story multi-tenant office building totaling 32,601 square feet on 1.53 acres
  • 780-784 Bay Blvd. is a 100 percent leased office/industrial building totaling 99,584 square feet on 5.44 acres
  • 830 Bay Blvd. is a single-tenant flex/office building totaling 30,046 square feet on 3.63 acres
  • 5920 Friars Rd. is a 92 percent leased multi-tenant office building totaling 20, 819 square feet on .74 acre

The seller was represented by Randy LaChance in Voit’s San Diego office. The buyer was self-represented.

Tenants in the portfolio include Cox Communications, National University, Fresenius Medical, Bayfront Charter School and West Marine. The four Chula Vista properties are located west of Interstate 5 adjacent to the new Chula Vista Bayfront Development.


Inside The Story

Jeff Silberman

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Sale/Acquisition
New call-to-action