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Chula Vista Industrial Park Sells for $28M

CHULA VISTA, CA-Nearly 400,000-sf industrial park, home to San Diego Food Bank and American Fashions, will now become office and administration space for Sweetwater Union High School District.

By Daniel D. Williams | Updated on February 13, 2005

CHULA VISTA, CA-Sweetwater Union High School District has acquired a former industrial park and will use it for office and administrative space. Sweetwater paid $28.6 million for the 389,000-sf Chula Vista Commerce Center, a multi-tenant industrial wholesale park. The company acquired the property from various Ratner & Foster Family Trusts. The property is located at L Street and Arizona Street.The industrial center had previously been a suit manufacturing facility, beginning in the 60s, for Ratner Suits, according to Charles Adolphe, a broker with Burnham Real Estate Oncor International on the deal. He tells Globest.com that Ratner sold their business to American Fashions, who had operated the facility until December when they relocated to another property in the San Diego area. Other notable tenants have included Solar and San Diego Food Bank.Sweetwater is already a tenant in the building, but will expand their operations at the center. According to Adolphe, the school district had been looking for large space for some time. “They’re going to move some of their office, administrative and storage requirements onto the site,” says Adolphe. “But it’s not going to be a campus for them.” He says that there were several buyers interested in the property, but that Sweetwater was the right buyer. “In today’s market there are lots of buyers, but limited supply,” he adds.There are about a dozen smaller tenants who will remain at the industrial center, but there are large spaces available on site. “At the industrial center, there is a 153,000-sf and 92,000-sf spot that are available and that Sweetwater will move into,” says Adolphe.Burnham’s Adolphe and Chris Holder represented the seller. The Sweetwater Union High School District represented itself.

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