National City Office Building Sells for $6,300,000



PROPERTY ADDRESS, CONSIDERATION

San Diego, CA - (Date: June 20, 2022) – The 19,717 square foot stand alone, office building (APN: 562-310-72-00) located at 22 W. 35th Street, National City, CA 91950 has been sold for $6,300,000.


REPRESENTATION

Seller SCOS LP was represented by Brian Jenkins and Mike Conger of Commercial Asset Advisors. The Buyer BP Properties 619 LLC, Polak Properties LLC, and Strong Tower LP were represented by Shirley Kanamu, Valley Coleman, Blanche Golia, and Kurt Kerner of Pacific Coast Commercial.


SALE DETAILS

Square Footage: Approx. 19,717

Escrow Company: Chicago Title – Rob Shaw

Title Company: Chicago Title – Cameron Aldrich

Financing: First Republic Bank


ADDITIONAL INFORMATION

This sale was a 1031 exchange down leg sale for the seller and a 1031 exchange up leg purchase for the buyer. At the time of the sale the building was 87% occupied and sold at an approximate cap rate of 5.65%.


“Regardless of limited inventory and economic uncertainty, this sale is further indication of the strong 1031 exchange market we’re experiencing in commercial real estate,” said Shirley Kanamu, Senior Broker Associate of Pacific Coast Commercial.



CONTACT INFORMATION


SHIRLEY KANAMU

Senior Broker Associate

(619) 787-6374

Shirley@PacificCoastCommercial.com

Lic. 01268281


VALLEY COLEMAN

Sales & Leasing Associate

(619) 944-1979

Valley@PacificCoastCommercial.com

Lic. 02065336


BLANCHE GOLIA

Senior Associate

(619) 458-8025

Blanche@PacificCoastCommercial.com

Lic. 01956233

KURT KERNER

Sales & Leasing Associate

(858) 964-8019

Kurt@PacificCoastCommercial.com

Lic. 02099773

Office (619) 469-3600 | 10721 Treena Street, Suite 200, San Diego, CA 92131 www.PacificCoastCommercial.com | Lic. 01209930