Mark Avilla, Senior Director of Cushman & Wakefield’s Private Capital Group in San Diego represented the seller. Bob Cowan, Director, also with Cushman & Wakefield San Diego provided leasing expertise.
Mark Avilla said, “This was a quality investment opportunity of an asset situated in one of North County’s fastest growing markets and adjacent to Restaurant Row offering an abundance of walkable amenities. The property provides a stabilized and advantageous rent roll with tenants across a broad range of business sectors including financial, professional, legal, marketing and medical uses.”
Avilla continued, “This was a true success story. We took the project from around 60% to 95% occupancy in the past two years, while increasing rents, which resulted in a significant increase in value for our client.”