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9/16/19
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Southport Office Park, an eight-building, 33.9k sf complex in San Diego’s National City submarket, sold for $8.75 mil, or $258/sf.
The property is located at 102, 132 and 202 Mile of Cars Way, 2403, 2435, 2425 and 2427 Hoover Ave and 2405 Transportation Ave, just east of I-5. It is situated across the freeway from the Naval Shipyards and NASSCO.
Michael Mossmer and Curt Perry with Voit Commercial Real Estate Services represented the seller, H.G. Fenton Property Company. Mark Caston and Spencer Kerrigan, also with Voit, repped the buyer, Dan Floit, a private investor based in San Diego. The Mossmer/Perry Group at Voit will retain the leasing assignment for the new owner.
“The sale represents continued strength in the sought-after South Bay submarket,” commented Mossmer. “With 100 percent occupancy among a diverse roster of credit tenants, this asset delivers immediate stable cash flow as well as a tremendous opportunity for future value creation.”
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