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690 Otay Lakes Road, Chula ...

CBRE Brokers Sell Office Property In Chula Vista For $8.8M
SOLDOffice

CBRE Brokers Sell Office Property In Chula Vista For $8.8M

690 Otay Lakes Road, Chula Vista, California 91910, United States

$8,800,000

$306/SF

Building Size

28,700 SF

Asset Type

Office

Closing

Aug 2, 2022

AI

The office building located at 690 Otay Lakes Road in Chula Vista has been sold for a total of $8,800,000. The property spans across 28,700 square feet, resulting in a price per square foot of $318. The seller of the property was Coseo Properties.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $8,800,000
  • Date: 08/03/2022
  • Address: 690 Otay Lakes Road, Chula Vista
  • Market: Chula Vista

The deal was facilitated by the following brokers from CBRE: Matt Pourcho, Anthony DeLorenzo, Matt Harris, Chris Williams, and Ramin Salehi. They represented Coseo Properties in the transaction.

Players

Anthony DeLorenzo

CBRE

Broker

$2B

vol

119 deals

Broker

Chula Vista Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.80%

Cash-on-Cash

-0.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93