LAND FOR SALE

13.3 acres divisible with a proposed 135,000 gross square foot multi-story, tiered self-storage project on ±6.2 acres with balance suitable for Industrial, Industrial Yard (IOS), parking or other industrial/commercial uses. Adjacent to over 17+ residential projects in various stages of planning and approvals within Chula Vista, comprising over 10,000 units of single and multi-family developments. The sub-market is currently undersupplied with YARDI Matrix reported supply at 4 SF/capita and current market rental rates reported at $2.17/SF. Current entitlements are for two large industrial buildings plus self-storage.

Sale Note
Sellers may consider selling parcel A separately for self-storage development. Based on an FAR of 0.50 and a tiered project totaling approximately 135,000 gross square feet this would require demising Parcel A to 270,000 SF (±6.2 acres). Site is entitled for a four-building project that includes three industrial buildings netting +/- 150K SF as well as a 149K SF (gross) self-storage building. Limited Industrial zoning allows self-storage use by-right and would potentially permit up to 290,000 SF if the entire site were considered. Sellers initial design called for 290,000 GSF of self-storage plus 120 RV spaces. "Parcel A" call for a reduced footprint of 135,000 gross square feet in a tiered, multi-story design which is believed to reduce the overall project budget significantly.