Award-Winning Class A Office Building in Southern California for Sale at $25 Million

Gateway 1, Chula Vista, CA

CHULA VISTA, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has secured the exclusive listing to market Gateway I, an award-winning, 102,403-square foot office building with ground-floor retail space in Chula Vista.

The property is listed at $25 million, which equates to $244 per square foot.

Pasha Darvishian

Pasha Darvishian, a vice president investments and Dennis Weisberg, a senior associate, both in the firm’s Newport Beach office, are representing the seller.

“Occupied by a premier mix of national corporations and city of San Diego government offices, this asset will currently provide a 7.2 percent unleveraged return on investment, or a 9.33 percent leveraged return,” Darvishian says.

Dennis Weisberg

 “Upon lease-up of its 12 percent vacant space, it will provide investors with a 17.4 percent leveraged return as well as a 20.7 percent total return, giving it substantial upside potential.”

Located at 303 H St. at Third Avenue, Gateway I is easily accessible from Interstates 5 and 805. Downtown San Diego lies approximately 12 minutes to the north and Tijuana, Mexico, is just across the border to the south.

Major tenants currently occupying the building include Bank of America, the County of San Diego, Quiznos and the San Diego Credit Union.

Gateway I includes on-site parking for 372 cars and public transportation access.

For a complete copy of the company's news release, please contact:

Stacey Corso
Public Relations Manager
(925) 953-1716