DMcp, a newly-renovated, Class A creative office project totaling 74,402 square feet in San Diego’s Del Mar Heights community, has sold to Denver-based EverWest Real Estate Partners, LLC for $43 million. The seller was an affiliate of SoCal-based Cruzan, which completed $4.4-million in capital improvements to the property prior to the sale.
Located at 12651 and 12671 High Bluff Dr. and situated on 3.5 acres, DMcp consists of two 3-story institutional-quality buildings. The asset was roughly 75% leased at the time of sale.
Cushman & Wakefield’s Rick Reeder and Brad Tecca represented the seller in the disposition.
Reeder says, “DMcp presented a rare, once in a cycle opportunity for an investor to acquire a best-in-class and fully renovated multi-tenant office project, set in one of the most prominent and desirable coastal business and residential communities in Southern California.”
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
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