Marcus & Millichap Arranges $14M Sale of Mission Valley Office Building

Katz Real Estate has purchased 2650 Camino Del Rio N, a 71,000-square-foot office property located in San Diego, in a $14 million transaction arranged by Marcus & Millichap. The acquisition was part of a 1031 exchange for the buyer who traded out of a retail portfolio in Hillcrest.

Nicholas Totah, First Vice President of Investments for the Totah Group in Marcus & Millichap’s San Diego Downtown office, secured and represented Katz Real Estate.

2650 Camino Del Rio N is a three story office building located in the Mission Valley submarket of San Diego. The property has ample parking and freeway visibility from I-8 and I-805, and is 80% occupied by a diverse mix of professional office and medical tenants. The building and grounds will undergo upgrades to fully lease and stabilize the asset.