Sabri Salim Of Palomar Heritage LLC Purchases Heritage Towne Center In Chula Vista For $14.7M

The property asset involved in this transaction is a retail space located at 1392-1394 East Palomar Street in Chula Vista, encompassing 1.96 acres. The sale price for the asset was $14,700,000, with a total square footage of 36,161 and a price per square foot of $407. This fully leased retail property was constructed in 2002 and is situated across from Heritage Park, contributing to its stable cash flow.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $14,700,000
• Address: 1392-1394 East Palomar Street
• Market: Chula Vista
• Asset Size: 1.96 acres
• Square Footage: 36,161
• Price Per Square Foot: $407
• Buyer: Sabri Salim - Palomar Heritage LLC
• Seller: Paragon Real Estate Investments
• Broker Team: Joe Yetter, Joel Wilson, Lane Robertson, Michael Peterson, Philip Voorhees & Reg Kobzi - CBRE

This transaction highlights the involvement of CBRE, which successfully completed the sale on behalf of Paragon Real Estate Investments. This marked the fifth asset sold by CBRE’s team for Paragon, demonstrating their continued collaboration in property transactions.