SRS Real Estate Partners has arranged the sale of a newly constructed Caliber Collision facility in Chula Vista, with the auto service property trading for $5.24 million. The asset, located at 742 Main Street, spans 16,832 square feet and was recently completed as part of a broader retail development. The Caliber Collision site is leased on a 15-year, corporate-guaranteed absolute triple net basis, providing the buyer with long-term, bond-like income and minimal landlord obligations.
The SRS Capital Markets team of Senior Managing Principals Matthew Mousavi and Patrick Luther, along with Vice President Greg Labarre, represented the seller, described as a Southern California-based developer. The buyer is a family trust also based in Southern California, reflecting ongoing private-capital interest in well-located, net-leased automotive service assets. Terms beyond the reported purchase price and cap rate were not disclosed.
The Caliber Collision property is part of a larger new development slated to include several national and regional retailers. Planned co-tenants in the project include Starbucks, Quick Quack Car Wash, Taco Bell, Circle K, and Chipotle, among other recognizable brands. Each of these components is being marketed and sold individually by SRS, with the combined value of the development estimated at approximately $30 million. The site is located less than one mile from Interstate 805 and near Chula Vista Crossings, a Kohl’s-anchored retail center, providing strong regional accessibility and established retail synergies.
According to SRS, the Caliber Collision offering attracted a substantial level of investor interest and ultimately sold above the asking price, which was based on a 5.5% cap rate. The tenant is expected to benefit from a location proximate to multiple auto dealerships and service retailers, as well as a dense surrounding trade area. SRS cited demographics of more than 348,200 residents and 81,200 employees within a one-mile radius, supporting expectations for sustained service demand at the property.
Mousavi noted that the transaction offered the buyer a fee-simple interest with very low anticipated management intensity owing to the absolute triple net lease structure. The long lease term, corporate guarantee, and recently completed construction position the property as a passive, income-focused investment aligned with current demand from private investors seeking durable cash flow in the net-lease sector.
