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**1031 Buyer Acquires Fully Occupied Office Building in San Diego for $6.53 Million**
CBRE has arranged the sale of a 26,403-square-foot office building located at 9663 Tierra Grande Street in San Diego for $6.53 million. The buyer, a private investor based in San Francisco, acquired the property through a 1031 exchange.
The seller, Tierra Grande 3B LLC, was represented by CBRE’s executive vice president Matt Pourcho, vice chairman Anthony DeLorenzo, and senior vice president Scott Kincaid.
“This property is a testament to stability and high demand, having maintained full occupancy for the past decade, including through the pandemic, and never experiencing more than one vacant suite,” said Pourcho. “With nine longstanding tenants boasting an average historical occupancy of over 10 years, it represents a truly exceptional investment. Office is by no means dead in San Diego, that’s for sure. We had multiple bids within 30 days and selected a buyer quickly.”
The three-story building is situated in San Diego’s Miramar submarket. Originally constructed in the late 1980s, it has undergone significant renovations. Additionally, the property’s zoning allows for flexible use, including potential medical applications.
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