Press Releases
Marcus & Millichap Arranges the Sale of American Tire Depot, a 3,000-SF Retail Property in Chula Vista, California
July 23, 2024
CHULA VISTA, Calif. July 23, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of American Tire Depot, a 3,000-square-foot retail property located in Chula Vista, California. The asset sold of $533.33 per square foot, totaling $1,600,000.
“Within 30 days on the market, the seller received multiple bids and sold the property,” shared Nick Totah, senior vice president with the Totah Group of Marcus & Millichap’s San Diego Downtown office. The seller, The Jerry H. Tashjian Trust, was looking to exchange out of state and was represented by Tony Villasenor of Coldwell Banker Commercial. The buyer, Lyda Cohen of Sunshine North Park, LLC, was procured by Totah and Joe Gutierrez, associate for The Totah Group in the firm’s San Diego Downtown office. The transaction included a new 10-year NNN lease with three five-year options.
Built in 1973, American Tire Depot is located at 1135 Broadway in Chula Vista, California and is anchored by Costco, Wal-Mart, Target, Chase and Petco. The credit tenant operates at 209 ATD locations across the country. “The Totah Group sold the adjacent property, Broadway Auto Plaza, in 2022 to the current buyer, who is growing her portfolio of investment properties,” said Totah, “The demand for Chula Vista investments and San Diego single-tenant net-leased properties is high with very little supply.”
“Within 30 days on the market, the seller received multiple bids and sold the property,” shared Nick Totah, senior vice president with the Totah Group of Marcus & Millichap’s San Diego Downtown office. The seller, The Jerry H. Tashjian Trust, was looking to exchange out of state and was represented by Tony Villasenor of Coldwell Banker Commercial. The buyer, Lyda Cohen of Sunshine North Park, LLC, was procured by Totah and Joe Gutierrez, associate for The Totah Group in the firm’s San Diego Downtown office. The transaction included a new 10-year NNN lease with three five-year options.
Built in 1973, American Tire Depot is located at 1135 Broadway in Chula Vista, California and is anchored by Costco, Wal-Mart, Target, Chase and Petco. The credit tenant operates at 209 ATD locations across the country. “The Totah Group sold the adjacent property, Broadway Auto Plaza, in 2022 to the current buyer, who is growing her portfolio of investment properties,” said Totah, “The demand for Chula Vista investments and San Diego single-tenant net-leased properties is high with very little supply.”
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
