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Mission Valley Office Building Trades for $33M
A joint venture between Hill Properties and a fund managed by DRA Advisors, LLC acquired 1450 Frazee, a 140,477-square-foot, institutional-quality office building in San Diego’s Mission Valley, from Menlo Equities Inc. for $33.05 million.
The a seven-story office building is adjacent to State Route 163 at Friars Road, and is currently 90.6% leased to 27 tenants. Two strong credit tenants, UC San Diego and ADP, occupy more than 40% of the leasable space.
JLL Capital Markets’ Lynn LaChapelle, Bob Prendergast and Sach Kirpalani led the sales team.
“Menlo’s attention to detail and its focus on providing a quality office environment appealed to an impressive array of tenants. Institutional investors were attracted to the quality of the rent roll, combined and with the asset’s strategic location in San Diego’s largest submarket,” said Prendergast.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


