Investor sells two-building portfolio in San Diego for $16 million

SAN DIEGO, Calif., September 3, 2019 – JLL’s Capital Markets team announced that it has completed the sale of two single tenant office buildings totaling 60,139 square feet in San Diego, California. The buildings, located at 8965 Balboa Avenue and 3255 Camino Del Rio South, were sold to Dollinger Properties for $16 million as part of its strategy to expand into new markets. Both buildings are 100 percent leased to the County of San Diego.

JLL’s team of Bob Prendergast, Lynn LaChapelle and Sach Kirpalani represented the seller. The buyer represented itself.

"San Diego continues to be one of the nation’s strongest commercial real estate markets with a diverse economy, job growth and strong fundamentals," said Prendergast. "This was a great opportunity to acquire buildings occupied by a strong credit tenant in two of San Diego’s most stable submarkets."

8965 Balboa Avenue is a two-story 26,914-square-foot office building located in the Kearny Mesa submarket of San Diego. It is situated between Interstate 15 and State Route 163, providing convenient access to the surrounding area.

3255 Camino Del Rio South is a two-story, 33,225-square-foot office building located in the Mission Valley submarket of San Diego. It is situated along the south side of Interstate 8 just east of Interstate 805 and features panoramic views of Mission Valley and SDCCU Stadium.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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