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9/05/19
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Two single-tenant office buildings totaling 60.1k sf of space in San Diego sold for $16 mil ($266/sf). The buildings, located at 8965 Balboa Ave and 3255 Camino Del Rio South, were purchased by Dollinger Properties as part of its strategy to expand into new markets. Both buildings are 100% leased to the County of San Diego.
8965 Balboa Ave is a two-story 26.9k sf, office building located in the Kearny Mesa submarket of San Diego. It is situated between Interstate 15 and State Route 163, providing convenient access to the surrounding area.
3255 Camino Del Rio South is a two-story, 33.2k sf office building located in the Mission Valley submarket of San Diego. It is situated along the south side of I-8, just east of I-805, and features panoramic views of Mission Valley and SDCCU Stadium.
JLL’s team of Bob Prendergast, Lynn LaChapelle and Sach Kirpalani represented the seller. The buyer repped itself in the deal.
"San Diego continues to be one of the nation’s strongest commercial real estate markets with a diverse economy, job growth and strong fundamentals," said Prendergast. "This was a great opportunity to acquire buildings occupied by a strong credit tenant in two of San Diego’s most stable submarkets."
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