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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.

Read More News Stories About: JLL
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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