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2/23/17
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Crown Investment Co Inc paid $5.87 mil for Airport Plaza, a 49.5k sf ($119/sf), multi-tenant office building in San Diego’s Kearny Mesa area. The asset, located at 8555 Aero Dr, was sold by Hudson Advisors.
The three-story property is situated close to Interstates 805 and 15 and State Route163. It is within walking distance to Montgomery Field Airport, hotel and retail amenities, and public transportation services.
Derek Hulse of Cushman & Wakefield’s San Diego office represented the seller in the transaction. Derek Applbaum with Colliers International repped the buyer.
Hules noted, “Airport Plaza is a good multi-tenant office asset in the heart of Central San Diego with a diverse mix of professional tenants. The building was approximately 80 percent leased at the time of sale, with only a handful of small vacant suites—one of which the seller recently pre-built out on a speculative basis. The building also recently completed renovations to the restrooms and common areas.”
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