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5/13/19
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A 17.5k sf office building in San Diego’s Governor Park area sold for $4.8 mil, or $274/sf. The building, located at 6336 Greenwich Dr, was acquired by SRT2 LLC.
6336 Greenwich Drive currently consists of five individual office suites ranging in size from 1.2k sf to 8k sf, and was fully occupied at time of sale. The property features ample on-site parking with 52 spaces, two sets of restrooms with showers, and a large common area patio. The seller was occupying space at the property as an owner/user, but will be vacating so the buyer can relocate his offices to the building.
The property, ideally situated just one exit south of UTC and minutes from Downtown San Diego, enjoys easy freeway access to the 805/5/and 52. It sits on a 1.18-acre lot on the border of La Jolla and the city of San Diego.
Mark Morgan of ACI Apartments represented the buyer, who intends to substantially upgrade the asset. The sellers, The Van Elk Trust and The Papike Trust, were represented by Tom Wilcox and Jay Arnett of Colliers International. The lease rates for the office suites at time of sale averaged $2.20 per square foot per month.
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