View of the buildings at 8250-8260 Camino Santa Fe. Photo credit: screenshot, Google Street View
A commercial building on Camino Santa Fe in Miramar has sold for $17.15 million, according to the real estate firm.
CBRE Investment Properties' Matt Pocho, Anthony DeLorenzo, Matt Harris and Casey Stark represented Hill Properties and the seller, Westport Capital Partners, in the transaction.
CSF LLC purchased the multi-tenant property for $282 per square foot.
“San Diego's most aggressive buyer demographic continues to be high-net-worth capital from outside the city,” said Mr. Pocho, the CBRE executive vice president. “This buyer was looking for a property with stable, reliable cash flow, so it was a perfect fit.”
The two buildings at 8250-8260 Camino Santa Fe sit on 3.66 acres. Combined, the buildings total approximately 61,000 square feet. Eight tenants currently lease space in the buildings, and the properties were 96% occupancy at the time of the sale.
Built in the late 1980s, the property recently underwent an extensive capital renovation, including a fresh coat of paint on the exterior, suite and directional signage, memorial signage, resurfaced parking lot and new landscaping.
Chris Nelson of Matthews Real Estate and Brian Reyes of Tangram Commercial represented CSF LLC in the transaction.
