410 H St
Chula Vista, CA 91910
MUFG Union Bank · Retail Property For Sale

Metropolis Realty is pleased to present this credit rated bank-leased asset. A freestanding 10,400 square foot building on a .84 acre lot leased by MUFG Union Bank is rated A+ with S&P. A tenant since 1974. Below market rent, Union Bank has just renewed for another 5 year term beginning June 1, 2017. The bank had only one more 5 year option remaining, however they asked for two additional 5 year options. The tenant now has three 5-year options at 10% increases. The tenant's further commitment to the location was demonstrated when the tenant purchased two adjacent parcels to enlarge their parking lot. The property benefits from high visibility on a signalized intersection and excellent ingress/egress. Located in the heart of Chula Vista, on a major thoroughfare, in an incorporated city within San Diego County. Eight miles from downtown San Diego and 1.3 miles from the Pacific Ocean. Also at the corner of H and 4th Street are 7-11 and US Bank. Within one 1.5 blocks are Wells Fargo Bank and Citibank. Downtown Chula Vista has a vibrant urban setting with upscale sidewalk cafes and restaurants, boutique shops and specialty retail stores, in addition to first-class office buildings, nightlife and entertainment, cultural arts and civic venues, and a variety of new housing opportunities, such as live/work lofts and luxury condominiums. This offering is an ideal opportunity for an investor to acquire a bank-leased property in an established urban sub-market.