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4/19/24
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A 14k sf retail store building in La Mesa sold for $6.3 mil, or $450/sf. The property, sitting on 1.27 acres at 8375 Hercules St, is the former home of a Lamps Plus location.
The building’s site, strategically located alongside Interstate 8 (I-8), offers prominent visibility. It is highly visible along one of the leading trade throughways in La Mesa, with over 1.9 million cars passing by on I-8 daily. The property sits at the end of a cul-de-sac with its own parking lot that includes 52 spaces.
Michael Peterson, Camille Doan, Reg Kobzi, Joel Wilson, Hunter Rowe and Matt Carlson with CBRE represented the seller, 8375 Hercules LLC, in the transaction.
“This building offered incredible freeway visibility and the opportunity to own an iconic La Mesa building that hasn’t traded in over 25 years,” said Peterson. “Our team yielded peak pricing for the seller by creating a bidding war with nine offerors vying for the asset.”
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