California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Bankers Hill Office Portfolio Trades for $4M
Marcus & Millichap has negotiated the sale of 4th & Redwood, a two-property office portfolio in the Bankers Hill neighborhood of San Diego. Charles Jadallah purchased the portfolio from The David and Janice Stevens Revocable Trust and the KAC Trust for $4.25 million.
Nick Totah, Marcus & Millichap senior vice president of investments of The Totah Group, represented The David and Janice Stevens Revocable Trust in the transaction of one of the assets, while Eric Jones of Pacific Sotheby’s International represented The KAC Trust in the other.
The property located at 3115 Fourth Avenue was built in 1980 and consists of a two-story, 2,650-square-foot building that was previously a law office. It sold for $2.15 million. 3131 Fourth Avenue was built in 1951 and consists of a single-story, 2,238-square-foot office building that is fully occupied by the seller as an insurance and law office. It sold for $2.1 million.
- ◦Sale/Acquisition
