Barbara Zaragoza 9:30 a.m., May 5
Decaying Property Attracts New Tenant
After years of decay, an abandoned building at 2285 Hotel Circle South in Mission Valley appears to have attracted a new tenant. The building, which appears to have once been a service station, was most recently used by ‘Spa Guy,’ a hot tub sales company, though the business has been shuttered for some time.
Ben, with the Lee & Associates Commercial brokerage, said that his company had represented the owner of the property for “years,” though in that span it had not found an occupant. At present, however, he stated that a company looking to use the property for industrial purposes, possibly as a vehicle storage lot, had agreed to terms on a lease and was in the process of permitting with the city for a use conversion. While exact terms of the as-yet uncompleted deal were not disclosed, the owner of the property had been asking $10,000/mo. in rent.
“It’s going to need considerable improvements,” the representative said in response to a question on the interior condition of the property. That much is evident to thousands of motorists on the I-8 who pass the building daily and can observe the falling roof tiles, walls coated in graffiti, and large weeds sprouting across the fenced-off parking lot.
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