Chula Vista Medical Office Building Sold for $10.7 MillionWednesday, January 22, 2014
CNL Healthcare Properties Inc. of Orlando, Fla., has purchased Bay Medical Plaza in Chula Vista for $10.7 million, according to CoStar Group and public data.
The seller of the 36,901-square-foot medical-office building, at 450 4th Ave., was Smiser Family Properties of San Diego.
The building was constructed on 0.88 acres in 1985 and renovated in 1999. It was fully leased at the time of sale, with tenants including Scripps Health and San Diego State University.
The buyer was represented by broker Cypress West Realty Partners LLC, and Marcus & Millichap represented the seller.