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November 23, 2014
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SAN DIEGO NEWS
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1031 Exchange Investor Trades into 14k sf Solana Beach Office Property

3/18/14

A 14.1k sf. Multi-tenant office building in Solana Beach was purchased for $4.3 mil, or $305/sf. The two-story building is located at 265 Santa Helena, north of Loma Santa Fe Dr on the east side of I-5.

The building was constructed in 1981 on a .84-acre lot, less than a quarter mile from the I-5/Lomas Santa Fe Drive interchange and within walking distance of numerous restaurants and retail amenities. It features an atrium design with a water feature, quiet courtyard and lush landscaping. It was 100% leased at the time of sale.

The property was purchased by Fair Oaks Valley, LLC, as part of a 1031 Exchange. Jim Ashcraft and Bill Harp of Ashcraft Investments represented the buyer. CBREs Paul Lafrenz and Melissa Foster repped the seller, Propco L.P.




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