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Retail site on Town Center in Santee sold

The approximately 21,500-square-foot, freestanding retail building at 215 Town Center Parkway in Santee 92071, has been sold for $3.5 million.

The buyer was Chasra LLC, 1011 Camino del Rio South, Suite 350, San Diego 92108.

Charles Brightwell Jr. and Raymond Barshick are members of Chasra.

The acquisition was financed with a loan of $3,200,500 from Pacific Commerce Bank.

The seller of the property (assessor's parcel 381-041-24) was MIS Limited LLC, with Aaron R. Minnier as the managing member.

The building was constructed in 1991 on a 2.02-acre lot.

The property is under a March 2014 lease to Rachas Inc. Brightwell is the president and CEO of Rachas, Barshick is the chief financial officer and Kristopher Peterson is the secretary. The lease is for a 10-year term with three five-year options.

The property was sold in December 2004 for $3.04 million with financing of $2,075,000 from San Diego County Credit Union.

The building is in a retail complex near a Costco, Walmart, Ross Dress for Less and Michael's Arts & Crafts.

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