DWC ERI Bonita View LLC, with Douglas Wilson Companies (DWC) as its managing member, is pleased to announce the acquisition of Bonita View Plaza, a 28,500-square foot medical office building in Chula Vista, California.
Ten miles from downtown San Diego, Bonita View Plaza is located in Chula Vista: a city of 250,000 and one of the fastest-growing markets in San Diego County. The plaza’s immediate vicinity includes several master-planned communities: Eastlake, Rolling Hills Ranch, San Miguel Ranch, Winding Walk and Otay Ranch.
With the building only 38 percent occupied, DWC has identified a great opportunity to attract new tenants through a refresh of the building. Significant improvements include upgrading the common areas, new building standards, as well as exterior renovations and landscaping.
With a strong knowledge of the San Diego market, DWC was able to identify and acquire this under-performing asset off-market and envision those improvements that will make the property highly competitive in the medical office space.
“This is a classic repositioning story we have executed throughout our firms history,” notes Doug Wilson, chairman and CEO. “DWC will provide responsive ownership, giving it a jolt of much needed energy, elevating it to today’s tenant needs.”
Flexible suite sizes, as well as ample parking for tenants and visitors have further positioned Bonita View Plaza for success in greater San Diego.
DWC has retained Tracy Clark and Brandon Keith of Voit Commercial Real Estate for leasing services.
“The property offers significantly more features than any of the surrounding competition, especially for medical users. The site offers excellent parking, which makes it attractive to tenants and visitors alike. This is also well suited for all manner of professional office uses. With professional management and direction from Douglas Wilson Companies, we expect to fill the existing vacancies in short order,” said Brandon Keith, senior vice president for Voit Real Estate Services.