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12/01/21
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DMJ Capital Partners and StoneSteps Real Estate have purchased a 32.5k sf, multi-tenant office project in San Diego’s Governor Park area for $7.5 mil ($231/sf). Built in 1987, the two-building property is located at 6265 Greenwich Dr, north of Hwy 52 and just west of I-805.
The property, previously known as Monarch Court, will be renamed as Latitude by the new ownership. Plans also include modernizing the exterior and common areas. The property has a distinctive architectural design and feel with a high-image sapphire blue reflective glass exterior and an expansive open air courtyard between the two buildings.
The property has had the same ownership since 1993 when it was purchased by the seller, who occupied a portion of the property with their mortgage company. It was 67% leased at the time of sale. DMJ Partners will occupy one of the vacant suites in the property.
DMJ Capital Partners and StoneSteps Real Estate represented themselves in the transaction. Tom Wilcox and Matt Zimsky with Colliers International repped the seller in the deal. Grandview Management Partners will handle the property management of Latitude after the sale.
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