CBRE’s Investment Properties-So Cal/Phoenix/Las Vegas team is pleased to announce the sale of 131 W. 33rd Street in National City, California, at a price of $172 PSF or $13.5 million. The 78,699 square-foot property was 96 percent leased at the time of sale. It is one half-mile from the connection between I-5 and SR 54, and adjacent to the 535-acre Chula Vista Bayfront Development, the largest waterfront development on the West Coast.

Matt Pourcho, Gary Stache, Anthony DeLorenzo, Doug Mack, Bryan Johnson and Erik Parker of CBRE represented the seller, an undisclosed institutional investor. The buyer, Los Angeles-based real estate investment firm Unilev Capital, was completing a 1031 exchange. This transaction marks the 11th sale in San Diego for our team since the economic shutdown in March 2020.

Several of our recent transactions were conducted within a competitive bidding environment, resulting in strong investor interest and multiple offers from different channels and across the United States. If you would like us to advise you on how to maximize the value of one of your assets, please give us a call.

Source: CBRE