Pacific Coast Commercial is pleased to announce the sale of 9666 Businesspark Avenue. The property was acquired by S& A Future Investments LLC and SRA Future Investments LLC for $3,875,000. Lesha Montoya of Pacific Coast Commercial represented the Buyer and Richard Lee of CFI represented the Seller, 9666 Businesspark Investors, LLC.
“Scripps Ranch has continued to remain strong with very few office buildings coming to the market even with historical vacancies due to COVID. Overall, this submarket of San Diego has continued to climb showing profits and 9666 Businesspark Ave made an excellent 1031 upleg choice for the investment buyers with zero vacancies and closing at a 6.7% CAP,” stated Lesha Montoya, Associate Vice President of Pacific Coast Commercial.
Address: 9666 Businesspark Avenue, San Diego, CA 92131
Seller Representation: CFI
Broker Rep:Richard Lee
Buyer Representation: Pacific Coast Commercial
Broker Rep: Lesha Montoya
Property Type: Office, Class B
Square Footage: 17,967 SF
Sale Price: $3,875,000
Seller Name: 9666 Businesspark Investors, LLC
Buyer Name: S& A Future Investments LLC and SRA Future Investments LLC
Escrow Company: Chicago Title Company
Close of Escrow Date: 8.30.2021
Title Company: Chicago Title Company
Financing: First General Bank