Ken Robak and Nick Mane are pleased to announce the sale of 8959 & 8959-B Complex Drive, San Diego, CA 92123. The commercial condo sold for $910,000 or $475 per sq. ft.
“This stabilized NNN investment is occupied by Cogent, a publicly traded multinational internet service provider. Cogent has been occupying the property for over 20 years,” stated Nick Mane.
Prior to the sale, Ken Robak and Nick Mane negotiated a new 7-year lease extension with the existing tenant.
The property is located in “Fiber Alley” which directly next to a primary fiber optic loop for San Diego that offers companies high speed connectivity. This asset is within Kearny Mesa’s submarket, which is one of San Diego’s most sought-after areas and is a major San Diego employment center.
“The San Diego Industrial/Flex market has proven to be incredibly resilient during the pandemic,” said Ken Robak.
Robak added, “the sale of this highly coveted stabilized investment saw multiple competing offers which allowed our team to achieve a sale price per square foot 63% higher than the most recent sale in the project.”
Address: 8959 & 8959-B Complex Drive, San Diego, CA 92123
APN:369-06-60-00 & 369-110-06-59
Seller Representation: Pacific Coast Commercial
Broker Rep: Ken Robak & Nick Mane
Buyer Representation: Horizon Journey, Inc.
Broker Rep: Yue Ma
Property Type: Commercial Condo
Square Footage: Approx. 1,915 SF
Seller Name: Richard Long the Nguyen and Daniel Phan the Nguyen
Buyer Name: 2013 Eugene T. Mui and Christina K Chong Revocable Trust
Escrow Company: Ticor Title Company – Carolyn Church
Close of Escrow Date: 9/14/2021
Title Company: Ticor Title Company
Financing: 1031 Exchange
Contact Robak Advisory Group of Pacific Coast Commercial
Vice President of Brokerage
Broker Associate - Sales & Leasing
10721 Treena Street, Suite 200, San Diego, CA 92131 | Lic. 01209930
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