A private investor has purchased a Chula Vista multi-tenant building, leased in part by a vocational and trade school, for $10 million.
CBRE’s Matt LoPiccolo and Matt Pourcho represented the seller, Orange County-based real estate investment firm G8 Capital, in the transaction. Robert Vallera of Voit Real Estate Services represented the buyer.
Located at 1261 Third Ave., the single-story property was originally built in 1975, with renovations added in 2019.
The building was fully leased at the time of sale to UEI College, as well as Samsung, and features 219 parking spaces.
“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,” LoPiccolo said.
– Staff reports