PREF Heritage LLC, an affiliate of Paragon, has acquired the retail portion of Heritage Town Center in Chula Vista for an undisclosed amount.
The seller of the 35,864-square-foot property at 1392 & 1394 East Palomar Street, was Otay Commercial One, LLC of Newport Beach. The property, located within the master-planned Otay Ranch was built in 2002 and was 100% occupied at the time of sale.
Paragon, managed by Roberto Jinich, Ricardo Jinich and Dan Berkus, has now closed on 11 properties in the past 36 months, with those transactions primarily occurring in West Coast urban markets. The company, founded in 1998, acquires and develops real estate projects in select urban US markets.