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California  + San Diego  + Retail  |  July 20, 2021
Lisa Brown
By: Lisa Brown

Seller Executes 20-Year Leaseback Amid Continued Operations

Wash N’ Go, a 3,400-square-foot net-leased property located in San Diego, recently sold for $5.8 million. The buyer was private investor Las Troyanas LLC.  

Wash N’ Go is located at 7959 Balboa Ave. in the Convoy District of Kearny Mesa. The property sold at a cap rate of 5.46 percent. The site was constructed in 2017 and consists of 3,400 total square feet on 0.65 acres. The seller executed a 20-year leaseback at closing and will continue to operate as Wash N’ Go.

Nick Totah and Joe Gutierrez in Marcus & Millichap’s San Diego downtown office had the exclusive listing to market the property on behalf of the seller, 7959 Balboa, LLC. The buyer was procured by Totah. 

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Nick Totah

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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  • ◦Lease
  • ◦Sale/Acquisition
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