JUST SOLD | Commercial Condo | NNN Investment


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.”



PROPERTY ADDRESS

Address: 8959 & 8959-B Complex Drive, San Diego, CA 92123

APN:369-06-60-00 & 369-110-06-59


REPRESENTATION

Seller Representation: Pacific Coast Commercial

Broker Rep: Ken Robak & Nick Mane

Buyer Representation: Horizon Journey, Inc.

Broker Rep: Yue Ma


SALE DETAILS

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

(619) 469-3600


KEN ROBAK

Vice President of Brokerage

(619) 469-3600

Ken@PacificCoastCommercial.com

Lic. 01236527


NICK MANE

Broker Associate - Sales & Leasing

(760) 840-7140

Nick@PacificCoastCommercial.com

Lic. 01939391


10721 Treena Street, Suite 200, San Diego, CA 92131 | Lic. 01209930


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