{"id":1004140954,"date":"2016-04-04T01:16:17","date_gmt":"2016-04-04T09:16:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004140954"},"modified":"2020-05-10T22:34:04","modified_gmt":"2020-05-11T06:34:04","slug":"prime-office-space-in-south-bays-millenia-development-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prime-office-space-in-south-bays-millenia-development-changes-hands\/","title":{"rendered":"Prime Office Space in South Bay\u2019s Millenia Development Changes Hands"},"content":{"rendered":"<p>By Keith Loria, Contributing Editor<\/p>\n<div id=\"attachment_1004140960\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/MilleniaOffice-Phase1-Street_View_2-3.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004140960\" data-attachment-id=\"1004140960\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/prime-office-space-in-south-bays-millenia-development-changes-hands\/milleniaoffice-phase1-street_view_2-3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/MilleniaOffice-Phase1-Street_View_2-3.jpg\" data-orig-size=\"1000,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"MilleniaOffice-Phase1-Street_View_2-3\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/MilleniaOffice-Phase1-Street_View_2-3.jpg?w=1000\" class=\"wp-image-1004140960 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/MilleniaOffice-Phase1-Street_View_2-3.jpg\" alt=\"Rendering of Millenia Office Phase I, San Diego\" width=\"300\" height=\"150\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/MilleniaOffice-Phase1-Street_View_2-3.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/MilleniaOffice-Phase1-Street_View_2-3.jpg?resize=300,150 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/MilleniaOffice-Phase1-Street_View_2-3.jpg?resize=768,384 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004140960\" class=\"wp-caption-text\">Rendering of Millenia Office Phase I, San Diego<\/p><\/div>\n<p><strong>San Diego<\/strong>\u2014<a href=\"https:\/\/www.chesnutproperties.com\/\" rel=\"nofollow\" target=\"_blank\">Chesnut Properties<\/a> has acquired 7 acres of the corporate\/office component of the 210-acre Millenia master-planned community in Chula Vista, Calif., near the Mexican Border.<\/p>\n<p>The price of the transaction was not disclosed, but Lee Chesnut, Chesnut principal, told <a href=\"https:\/\/www.commercialsearch.com\/news\/\" target=\"_blank\">Commercial Property Executive<\/a> that it was at a price he believed would have been good in 1992.<\/p>\n<p>\u201cIt is in one of the most pristine locations in Orange County,\u201d he told CPE. \u201cI am the recipient of getting the opportunity to control all of the office entitlements of Millenia and have received a substantial incentive in terms of price of land to bring on line very high-quality projects or buildings at a very reasonable price.\u201d<\/p>\n<p>The Millenia office component has entitlements for 2 million square feet of Class A corporate and office space and Chestnut has an option to acquire the balance of the 28-acre site.<\/p>\n<p>According to Chestnut, grading has already begun on the first phase of Millenia Office, which is planned for two four-story office buildings totaling 318,000 square feet, a parking structure for 1,200 vehicles and a 7,000-square-foot fitness center and caf\u00e9 complex. The first phase will also include a 40,000+-square-foot city of Chula Vista library.<\/p>\n<p>The first two office buildings will be linked by a series of bridges that will allow workers easy access to the outdoors and neighboring tenants. This connectivity also enables Millenia Office to offer the first mega-sized floor plate in South County.<\/p>\n<p>Ongoing improvements, such as the Tijuana International Airport Cross Border Terminal, transformation of Brown Field airport, completion of SR-905, and enlargement of both the San Ysidro and Otay Mesa ports of entry, position Millenia for rapid expansion among global market players.<\/p>\n<p>\u201cI\u2019m bringing this project forward because it\u2019s one of the most powerful, bi-national locations with international airport travel just 10 minutes away,\u201d Chestnut said. \u201cThe City of Chula Vista and I are strategizing a plan that will allow us to provide major economic incentives to corporations that choose to move in Millenia. I can\u2019t wait to get in front of companies and show them the financial packages we can offer them.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chesnut Properties has acquired the first phase of a 210-acre master-planned community in San Diego&#8217;s South County.<\/p>\n","protected":false},"author":451,"featured_media":1004140960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,21752,21742,21747,1608,15],"tags":[],"class_list":["post-1004140954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-mixed-use","category-latest","category-office","category-san-diego","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Prime Office Space in South Bay\u2019s Millenia Development Changes Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/prime-office-space-in-south-bays-millenia-development-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prime Office Space in South Bay\u2019s Millenia Development Changes Hands\" \/>\n<meta property=\"og:description\" content=\"Chesnut Properties has acquired the first phase of a 210-acre master-planned community in San Diego&#039;s South County.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/prime-office-space-in-south-bays-millenia-development-changes-hands\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-04T09:16:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-11T06:34:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/MilleniaOffice-Phase1-Street_View_2-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prime-office-space-in-south-bays-millenia-development-changes-hands\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prime-office-space-in-south-bays-millenia-development-changes-hands\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"Prime Office Space in South Bay\u2019s Millenia Development Changes Hands\",\"datePublished\":\"2016-04-04T09:16:17+00:00\",\"dateModified\":\"2020-05-11T06:34:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prime-office-space-in-south-bays-millenia-development-changes-hands\\\/\"},\"wordCount\":381,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prime-office-space-in-south-bays-millenia-development-changes-hands\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/04\\\/MilleniaOffice-Phase1-Street_View_2-3.jpg\",\"articleSection\":[\"Deals\",\"Featured\",\"Investment\",\"Mixed Use\",\"News\",\"Office\",\"San Diego\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prime-office-space-in-south-bays-millenia-development-changes-hands\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prime-office-space-in-south-bays-millenia-development-changes-hands\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prime-office-space-in-south-bays-millenia-development-changes-hands\\\/\",\"name\":\"Prime Office Space in South Bay\u2019s Millenia Development Changes Hands - 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