Trio of Net-Leased Retail Properties Trade in San Diego for $90M
JLL Capital Markets has announced the $90M sale of a collection of three core, single-tenant net-leased assets totaling 194,000 square feet in the Kearny Mesa submarket of San Diego. JLL represented the seller, Clarion Partners, LLC and HP Investors while the buyer was a private investor.
The properties are located along Clairemont Mesa Boulevard and Shawline Street, adjacent to Interstate 805 and are visible to nearly 200,000 vehicles a day. They are fully leased to three national tenants, including Food 4 Less and Jiffy Lube, and are part of the 30-acre Gateway at Kearny Mesa retail destination.
“Gateway at Kearny Mesa is a truly special property,” said Gleb Lvovich, a member of the JLL team involved in the transaction. “It was great to work with our multi-housing team to develop a strategy for the sale and thesis for the embedded value and long-term upside of the retail component.”
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.
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