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La Mesa’s Former Lamps Plus Location Causes Bidding War
CBRE’s Michael Peterson, Camille Doan, Reg Kobzi, Joel Wilson, Hunter Rowe and Matt Carlson arranged the $6.3-million sale of 8375 Hercules St, in La Mesa. The team represented the seller, 8375 Hercules, LLC.
The building’s location alongside Interstate 8 offers prominent visibility. The 14,000-square-foot building, the former home of Lamps Plus in La Mesa, sits on 1.27 acres at the end of a cul-de-sac with its own parking lot that includes 52 spaces.
“This building offered incredible freeway visibility and the opportunity to own an iconic La Mesa building that hasn’t traded in over 25 years,” said Peterson. “Our team yielded peak pricing for the seller by creating a bidding war with nine offerors vying for the asset.”
The new use for the property is not clear. Its location puts it along one of the leading throughways in La Mesa, with more than 1.9 million cars passing by on I-8 daily.
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- ◦Sale/Acquisition
