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June 22, 2018
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La Jolla Office Campus Trades in $97 Mil Transaction

5/18/18

The Campus on Villa La Jolla, a five-building, 198.5k sf mixed-use campus in La Jolla, was purchased by GPI Companies for $97.1 mil ($489/sf). Located at 8910 to 8980 Villa La Jolla Dr, the the sprawling coastal asset sits on 6.78 acres just west of I-5, close to the Pacific Ocean.

The property is 83% occupied and includes a three-building professional center with office and medical tenants; a newly built, state-of-the-art standalone medical office building; and a restaurant building fully occupied by Rock Bottom Brewery & Restaurant. Just over half of The Campus on Villa La Jolla is leased to the Regents of the University of California. The University of California, San Diego’s (UCSD) main campus is physically connected to the property via a walking bridge that passes over La Jolla Village Drive, connecting UCSD directly to The Campus.

Kevin Shannon, Brunson Howard, Ken White, Paul Jones and Rick Stumm with NKF Capital Markets represented the seller, La Jolla Village Professional Center Associates. The buyer was self-represented.

“The competition for this prime coastal location was fierce as many buyers were attracted to the upside of the opportunity via lease up and repositioning, as well the tremendous scarcity of this type of for-sale product in the UTC market,” said Shannon.

Howard added, “This property is primed to benefit from the $1 billion revitalization of UTC Westfield Mall, as well as the pending completion of the Mid-Coast Corridor Transit Project, and offers tenants walkable access to mass transit and world-class retail amenities.”






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