Cushman & Wakefield has brokered the sale of Lomas Pacific I & II, an 89,000-square-foot suburban office park in the Kearny Mesa submarket of San Diego. The two-building campus, located at the corner of Chesapeake Drive and Farnham Street, was acquired by M.C. Strauss Company from Brixton Capital for $23 million.
“As one of San Diego’s most coveted and centrally located business locations, Lomas Pacific I & II is 84% leased and anchored by prominent health, engineering and professional services firms providing the buyer with secure in-place cash flow and the ability to realize near-term upside,” said Cushman & Wakefield’s Executive Managing Director Rick Reeder.
Reeder and Brad Tecca of the firm’s Capital Markets in San Diego represented both parties in the transaction while Bill Cavanaugh, Duncan Dodd, SIOR and Mike Novkov provided leasing advisory.
The property features include upgraded common areas, a recently re-slurried large parking area, and close proximity to several freeways.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.