Wednesday, January 6, 2010

Marcus & Millichap Sells $10.6M Class-A Medical Office Building in San Diego County

CHULA VISTA, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of the 77,002-square foot Class A County of San Diego Health and Human Services agency building (top left photo)  in Chula Vista.

The sales price of $10.6 million makes it one of the largest office transactions in San Diego County this year.

Joshua Volen, (bottom right photo)  an associate vice president and a director of the firm’s National Office and Industrial Properties Group in San Diego, represented both the buyer and seller.

“The County of San Diego Health and Human Services agency is a high-profile tenant that leases space in a Class-A project,” says Volen. “The property features a brand new 10-year lease extension with annual increases that provide new ownership with a stable long-term investment.”

The asset is located on 7.07 acres at 690 Oxford St. in Chula Vista with easy access to Interstates 5 and 805. The building features 420 surface parking spaces and excellent ingress and egress. Located seven miles from downtown San Diego, Chula Vista is the second-largest city in San Diego County.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

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