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

Property Image
SOLD
$8,800,000
Ramin Salehi
Christian (Chris) Williams
Matt Harris
+ 2

California

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Office28,700 SF
Sold 08/03/2022
the dealplayerscompscontact
Property Image
SOLD

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

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

See Similar Deals
Office28,700 SF
Sold 08/03/2022
Ramin Salehi
Christian (Chris) Williams
Matt Harris
+ 2
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$306
Total Square Footage:28,700 SF
Transaction Type:Sale

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
Anthony DeLorenzo
116 deals$2B volume
BROKER
Matt Pourcho
CBRE
Matt Pourcho
48 deals$650.7M volume
BROKER
Matt Harris
CBRE
Matt Harris
28 deals$349M volume
BROKER
Christian (Chris) Williams
CBRE
Christian Williams
16 deals$434.4M volume
BROKER
Ramin Salehi
CBRE
Ramin Salehi
7 deals$39.2M volume(858) 546-2672
BROKER

Details

SOLD
IMAGE: Matt Pourcho, Ramin Salehi, Chris Williams, Matt Harris & Anthony DeLorenzo DATE: 08/03/2022 ADDRESS: 690 Otay Lakes Road MARKET: Chula Vista ASSET TYPE: Office SELLER: Coseo Properties BROKERS: Matt Pourcho, Anthony DeLorenzo, Matt Harris, Chris Williams & Ramin Salehi - CBRE (@CBRE) SALE PRICE: $8,800,000 SF: 28,700 ~ PPSF: $318

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,264.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,716.49
Annual Debt Service$500,597.87