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Investor in Postal Real Estate Scores Off-Market Deal in San Diego
Amid an investment climate that has many commercial real estate investors looking for stabilized assets, JLL announced that Postal Realty Holdings LLC has acquired a 32,764-square-foot building leased to United States Postal Service located at 5045 Shoreham Place in San Diego, for $9.6 million in an off-market transaction. JLL SVPs Brian Quinn and Bryan Cunningham represented the seller, The MacDonald Family Trust, which acquired the property in 1999.
“As the capital markets environment normalizes, we are seeing investors looking to acquire well-tenanted stabilized properties, no matter the property type,” said Quinn. “The buyer, who solely invests in US Postal Service buildings, plans to hold the building long-term.”
The USPS University City Annex building is ideally located minutes from the I-805 and SR-52 Freeways, providing convenient access to neighboring communities, according to JLL.
- ◦Sale/Acquisition
