San Diego Business Journal

Vista Office Property Sold for $9.85 Million

By Lou Hirsh Wednesday, August 9, 2017
   
Photo courtesy of Cushman & Wakefield

Photo courtesy of Cushman & Wakefield

An affiliate of San Diego-based Coseo Properties Inc. has purchased a three-building Vista office property for $9.85 million, according to brokerage firm Cushman & Wakefield.

The seller of Melrose Law Center, totaling 102,307 square feet at 380, 400 and 410 S. Melrose Drive, was Harmatz Investment Corp. of Vista.

The buyer was represented by Richard Liebert and Matt Zimsky of Colliers International Group Inc. The seller was represented by Mark Avilla of Cushman & Wakefield and Tim Clepper of San Diego Commercial.

The new owner has retained Avilla, along with Cushman & Wakefield’s Matty Sundberg and Bob Cowan, to handle leasing services.

Brokers said the multi-tenant property was approximately 56 percent leased at the time of sale. Prior to the sale, Cushman & Wakefield secured a 14,035-square-foot lease for an undisclosed amount to SmallOffices4Rent, a provider of space for businesses requiring 100 to 500 square feet.

The buildings were originally constructed in 1987 and 2000 near state Route 78, according to CoStar Group and public data.