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1031 Buyer Scores Fully Occupied San Diego Offices
CBRE facilitated the $6.53-million sale of 9663 Tierra Grande St., a 26,403-square-foot office building in San Diego. A San Francisco-based private 1031 buyer acquired the property. EVP Matt Pourcho and vice chairman Anthony DeLorenzo, along with SVP Scott Kincaid, represented the seller, Tierra Grande 3B LLC.
“This property is a testament to stability and high demand, having maintained full occupancy for the past decade, including through the pandemic, and never experiencing more than one vacant suite,” said Pourcho. “With nine longstanding tenants boasting an average historical occupancy of over 10 years, it represents a truly exceptional investment. Office is by no means dead in San Diego, that’s for sure. We had multiple bids within 30 days and selected a buyer quickly.”
The three-story building is located in the Miramar submarket of San Diego. Built in the late 1980s, the property has undergone extensive renovations. Its zoning provides crucial flexibility, particularly for medical uses.
- ◦Sale/Acquisition
