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Vista Snags Kearny Mesa Office Park for $28M
Santa Monica, CA-based Vista Investment Group acquired the 140,107-square-foot Seville Plaza in San Diego’s Kearny Mesa submarket. The $27.5-million off-market deal was with seller, LLJ Ventures.
Vista Investment Group’s Jonathan Barach says, “[Kearny Mesa] is a supply constrained market which has seen little to no new inventory added during this cycle. At our cost basis, Seville Plaza represented an excellent value add opportunity with strong current cash yields, enhanced by a credit anchor tenant.”
The 93%-leased asset is anchored by County of San Diego’s Health and Human Services division. The seven-acre office/medical campus is located at 5469, 5471 and 5473 Kearny Villa Rd. It is comprised of three identical freestanding 48,000-square-foot, low-rise office buildings built in 1981. Recent renovations include updated lobbies, common areas and elevator cabs, and new signage.
HFF’s Nick Frasco, Nick Psyllos and Taylor Bergthold facilitated the sale, while HFF’s Marc Schillinger and Ryan Ash placed the debt.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

