by Screen shot of Google Street View

An industrial property in Chula Vista was sold for $1.5 million for a record-low cap rate of 4.41 percent. 

According to brokers, the transaction involved a 4,000-square foot industrial property located at 935 Broadway and an adjacent parking lot on a separate parcel. The property is located in a small shopping center, which was leased to three tenants at the time of the sale. 

The company that represented the seller Nicholas Totah and Ricardo Partida, executives with the Totah Group in Marcus & Millichap's San Diego Downtown office, The buyer of the property, dubbed Broadway Multi-Tenant Industrial, was Rabagoz Real Estate, LLC. 

The real estate brokerage specializes in investment sales, financing, research, and advisory services.

The Broadway Multi-Tenant Industrial was built in 1991 and sold by its original developer.


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