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5/16/25
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HP Investors, in partnership with Realm, L.P., has acquired 1450 Frazee, a seven-story, 145k sf Class A office building in San Diego’s Mission Valley submarket in an off-market transaction valued at $20.25 mil ($140/sf).
HP Investors will immediately begin a multi-million capital improvement program which will include upgrades to the building infrastructure and common areas, building upon the recent renovations made by the seller. To be rebranded as Axis 1450, the property can accommodate a wide range of businesses seeking 2k sf up to a 20k sf full floor.
Axis 1450 benefits from the many demand drivers for the area, including its excellent location within Mission Valley, which has evolved into one of San Diego’s most important employment hubs and most dynamic submarkets. Major employers in the submarket include United Technologies, Kaiser, Eaton, United Health Group, Paychex and Verizon. Mission Valley’s inventory of new housing, quality schools and upscale retail has also driven many businesses to the area.
JLL's Tim Olson and Bess Wakeman have been retained to oversee leasing at Axis 1450.
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