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Miramar Multi-Tenant Office Sold to All Cash Buyer for $4.05M


PROPERTY ADDRESS 

Address: 6920 Miramar Road, San Diego, CA 92121

APN: 343-050-81



REPRESENTATION

Seller Representation: Pacific Coast Commercial

Broker Rep: Bo Gibbons and Lee Suryani

 

Buyer Representation: Curb Real Estate

Broker Rep: Ramin Karimi



6920 Miramar Road is a 34,750 SF multi-tenant office building part of a 4-building office condo project located along Miramar Road.  The building was occupied by over 60 small tenants ranging in size from 50 SF to 2,000 SF, most on short-term leases.  “The property was marketed for sale for over a year but finding a buyer proved difficult in today’s commercial lending environment and investors are nervous about the future demand for multi-tenant office. The listing team and Seller partnered with Ten-X to market the property and ended up with an all-cash buyer from Dubai that closed on the deal at $4,050,000 or $116/SF,” stated Bo Gibbons of Pacific Coast Commercial.



SALE DETAILS

Property Type: Multi-Tenant Office

Square Footage: 34,750

Sale Price: $4,050,000

Seller Name: Cortney F. Buse and Bernice C. Buse Family Trust

Buyer Name: 6920 Miramar Road LLC

Escrow Company: Novare National Settlement Service

Close of Escrow Date: July 1, 2024

Title Company: Fidelity National Title Insurance

 


CONTACT INFORMATION

Bo Gibbons

Senior Vice President

Lic. 01367936


Lee Suryani

Associate Vice President

Lic. 01384873

 

 

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