Updated Oct 28, 2024
Gersham Properties Acquires Retail Property In Chula Vista For $47.8M
1480 Eastlake Parkway, Chula Vista, California 91915, United States
$47,800,000
$131/SF
Building Size
363,300 SF
Asset Type
Retail
Closing
Aug 11, 2022
About this deal
AI
Located at 1480 Eastlake Parkway in Chula Vista, this retail property was recently sold in a closed transaction. The property spans a total area of 363,300 square feet. Gersham Properties acquired the asset from Crow Holdings for a sale price of $47,800,000, resulting in a price per square foot of $131.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $47,800,000
- Square Footage: 363,300
- Address: 1480 Eastlake Parkway
- Market: Chula Vista
The deal was facilitated by the brokers Pete Bethea, Rob Ippolito, and Glenn Rudy from Newmark, who represented the buyer, Gersham Properties, in the transaction.
On the Map
$47,800,000
$131/SF
Retail
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Players
Chula Vista Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93