Bank building at Santee Town Center sold

by Rick Griffin

A 5,236-square-foot free-standing building at Santee Town Center has been sold for $2,476,000. The buyers were Yam Ngon Lee and Sue Juan Lee, trustees of the Yan Ngon Lee and Sue Juan Lee Living Trust, 4043 Mark Terrace, San Diego. The seller of the property was Beyond Serenity at Santee LP, a California limited partnership, with Beyond Serenity Inc. as general partner. Michael A. Hill is chief financial officer of Beyond. The building is under leasehold to JPMorgan Chase Bank (NYSE: JPM), with three years remaining on the current option. The building at 10 Town Center Parkway was an original build-to-suit for Home Savings and Loan and has been a bank since 1989. The building occupies a 30,056-square-foot lot. The property was listed by Marcus and Millichap. In 2004, the property was sold for $2,375,000.