Judith Brower/Jenn Quader
Brower, Miller & Cole
VOIT REAL ESTATE SERVICES COMPLETES $11.85 MILLION
OFFICE ACQUISITION IN SAN DIEGO
• Voit’s Brandon Keith and Tracy Clark complete the largest office sale of 2012 in the Chula Vista submarket, according to Voit.
San Diego, Calif., (October 30, 2012) – Voit Real Estate Services’ San Diego office has successfully completed the $11.85 million acquisition of an 87,000 square-foot office building in Chula Vista, Calif. on behalf of the buyer. According to Brandon Keith, a Senior Vice President in Voit’s San Diego office, the completion of this transaction marks the largest office sale in the Chula Vista submarket in 2012.
Keith worked with Tracy Clark of Voit’s San Diego office to represent the buyer, CHG Foundation, a California non-profit. CHG, or Community Health Group, is a nonprofit health plan operating in San Diego County.
“Our client was seeking a larger headquarters facility in close proximity to its current headquarters in Chula Vista to expand its local operations,” explained Keith. “This transaction is an excellent example of the ongoing recovery in the San Diego market. Companies are gaining the confidence to buy again, armed with the knowledge that real estate prices have likely hit bottom. It is important to realize that there are many investment opportunities available in this market, and buyers should seek to make deals before prices begin to increase and quality product is snapped up by other investors.”
CHG Foundation will occupy 67,000 square feet of this two-story office/flex building for its operations. The remaining 20,000 square feet will be occupied by Hitachi America Ltd., a global supplier of household electronics, on a lease which was completed as part of the sale, according to Clark, a Senior Vice President in Voit’s San Diego office.
The seller, Chula Vista Investment Group, LLC, is a real estate fund managed on behalf of the Alaska Permanent Pension Fund, and was represented by Mickey Morera and Chris Holder of Cushman & Wakefield.
The property is located at 900 Hitachi Way in Chula Vista, Calif.
About Voit Real Estate Services
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and asset services professionals working together, provides strategic property solutions tailored to clients’ needs. Combining 40 years of expertise in brokerage, investment advisory, financial analysis, market research, asset management, tenant advisory and property management services, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 50 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume. Further information is available at www.voitco.com.