American Tire Depot, a 3,000-square-foot retail property in Chula Vista, has been sold for $1.6 million, according to a real estate brokerage.
“Within 30 days on the market, the seller received multiple bids and sold the property,” said Nick Totah, senior vice president with the Totah Group of Marcus & Millichap’s San Diego Downtown office.
The seller, the Jerry H. Tashjian Trust, was represented by Tony Villasenor of Coldwell Banker Commercial. The buyer, Lyda Cohen of Sunshine North Park, LLC, was procured by Totah and Joe Gutierrez, an associate for the Totah Group.
The transaction, at $533.33 per square foot, included a new 10-year lease with three five-year options.
Built in 1973, American Tire Depot, 1135 Broadway, sits across from a center anchored by Costco, Wal-Mart, Target, Chase and Petco.
“The Totah Group sold the adjacent property, Broadway Auto Plaza, in 2022 to the current buyer, who is growing her portfolio of investment properties,” Totah said. “The demand for Chula Vista investments and San Diego single-tenant net-leased properties is high with very little supply.”
Marcus & Millichap (NYSE: MMI) is a commercial real estate brokerage firm specializing in investment sales, financing research and advisory services.
