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Church sells industrial condo to charter school

The 38,749-square-foot industrial condominium at 1132 North Melrose Drive in Vista 92083, has been sold for $4.5 million.

The buyer was Guajome Schools LLC, 2000 N. Santa Fe Ave., Vista 92083. The school plans to use the site for Guajome Park Academy, a charter school consisting of grades K-8. The acquisition was financed with a loan of $3,146,000 from MUFG Union Bank.

The seller of the property was North Coast Church.

Cassidy Turley Senior Vice President Todd Davis, CCIM, and Associate Chris Baumgart represented the seller. Cassidy Turley Vice President Jim Benson, along with Jon Walters, of Colliers International, represented the buyer.

The location was previously a religious facility for North Coast Church for more than four years. It is currently occupied by Life Church, which has one year remaining on its lease.

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