California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
1031 Exchange Buyer Picks Up Central San Diego Asset for $12.5M
CBRE Group, Inc. completed the sale of an office building in Central San Diego to a Los Angeles based 1031-exchange buyer for $12.5 million. The property, 9860 Mesa Rim, is 100% leased by the University of Southern California, and is the San Diego HQ for USC’s Alzheimer’s Therapeutic Research Institute, which is a part of the Keck School of Medicine.
CBRE’s Matt Pourcho, Gary Stache, Anthony DeLorenzo, and Mark Shaffer represented the Seattle based seller, Washington Capital Management. The buyer, a high net worth individual plans to keep the property as a long term investment.
Pourcho says, “University of Southern California is a great credit tenant, and the building shows very well. This was a win-win for all parties, and we continue to see 1031 capital outperform institutional capital on the buy-side.”
The two-story, 40,000-square-foot property was built in 2000 and is situated between the I-805 and I-15 freeways.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


