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1/19/24
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A 25.5k sf office building in San Diego’s Rancho Bernardo submarket traded for $8 mil, or $314/sf. The property is located within Tech Park at 17075 Camino San Bernardo. It was acquired by Dominguez Channel LLC, an overseas private buyer undergoing a 1031 exchange.
Situated on just over two acres, the two-story building is fully gross leased, with no pass-throughs. The remodeled modern office features 115 parking spaces and an outdoor patio on the corner of Rancho Bernardo Road and Camino San Bernardo.
CBRE Investment Properties’ Matt Pourcho, Anthony DeLorenzo and Matt Harris, along with Chris Williams, represented a private San Diego-based seller in the transaction. George Rehab repped Dominguez Channel LLC. The deal closed at a 5.8% cap rate.
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