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3/26/24
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A 54k sf, two-story office building in San Diego’s Kearny Mesa area traded for $17 mil. The fully leased office building sold for $315 per square foot, equating to a first-year cap rate of 8.5%. We’re told this marks the highest investment sale price per square foot in Kearny Mesa since 2019 for a building over 20k sf with a straight office use.
The property is located at 9573 and 9577 Chesapeake Dr, north of Clairemont Mesa Blvd and west of I-15. Kearny Mesa is a prime market for County and City facilities due to its access to multiple freeways and its central location within both the City of San Diego and San Diego County.
Randy LaChance and Brandon Keith with Voit Real Estate Services represented the seller in the transaction.
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