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San Diego Office Park Changes Hands in $23M Deal
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.
- ◦Sale/Acquisition
