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December 16, 2018
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Private Investor Picks Up La Jolla Office Property


Tower Investments LLC, a Sacramento-based investor, paid $3.2 mil for a 19.1k sf ($167/sf), multi-tenant office property in La Jolla. The three-story building is situated on an 11.3k sf parcel at 800 Silverado St, a block east of Prospect St.

Constructed in 1986, the building was fully occupied at the time of sale. City National Bank and the law firm of Blanchard, Krasner and French are the anchor tenants. The building is on a ground lease with 31 years remaining.

Paul Lafrenz of Colliers International and Pascal Aubry-Dumand, CCIM, of Jones Lang LaSalle represented the San Diego-based seller, Laubro No.1 LLC.

“La Jolla is one of the most desirable investment markets on the West Coast,” said Lafrenz. “With La Jolla’s low office vacancy rates and some of the highest rents in San Diego County, 800 Silverado provides a strong long-term investment for the new ownership.”

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