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Ink Dries on Another Retail Sale

CHULA VISTA, CA-A local retail asset purchased for $970,000 in 2002 has recently traded hands for $2.3 million. The sale reflects the steadily rising prices of the San Diego County retail market.

By Erin Cassin | Updated on January 27, 2004

CHULA VISTA, CA-In the latest reflection of the steadily rising prices of the San Diego County retail market, a local retail asset that was acquired for $970,000 in 2002 has recently traded hands for $2.3 million.

H St. Plaza LLC has sold the property to George C. Scoortis, Lidia L. Scoortis, Alan I. Charap and Gail Evans Charap. The buyers have financed the purchase with a $1.3-million loan from Quaker City Federal Bank.

Constructed in 1960, the asset stands on a 4,125-sf lot located at 498 4th Ave. The two-story building encompasses a total of 9,000 sf.

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