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PCC Announces $5.25M Sale of Medical/Professional Building


Pacific Coast Commercial is thrilled to announce the sale of 10225 Austin Drive—a well maintained medical/professional building constructed in 1988. This property stands not just as a home for many successful businesses, but also as a great long-term investment, having been under the meticulous care of the PCC Property Management and leasing team for over 13 years. Even with the transition to a new buyer group, we are proud to continue offering the same stellar management and leasing services that have benefited this asset.

 

The building is approximately 25,002 square feet, occupying a generous 117,176 square feet lot, with the potential to increase the building footprint. The transaction, a symbol of its great value, was successfully concluded at $5,250,000, reaching its finalization on December 27, 2023.

 

“My Partner, Robert Phillips and I represented both the seller and the buyer. A huge thanks to Jeni Burgess, our Lender at First Citizens Bank, for a speedy 19-day loan processing period, to meet the very important closing deadline in 2023. Special thanks to Title's Jeff Razi & Tyler Smith, and the Samantha Maestas Escrow team at Fidelity National Title for overcoming many obstacles. The dedication of all involved, including buyers and sellers, showcased the stellar effort to make this transaction happen. Pacific Coast Commercial's attention to detail was also on full display which shows our excellence in commercial real estate,” stated Vince Provenzano, President of Brokerage at Pacific Coast Commercial.


PROPERTY ADDRESS

Address: 10225 Austin Drive Rancho San Diego, CA 91978


REPRESENTATION

Seller Representation Company: Pacific Coast Commercial

Broker Rep: Vince Provenzano & Robert Phillips

 

Buyer Representation Company: Pacific Coast Commercial

Broker Rep: Vince Provenzano & Robert Phillips


SALE DETAILS

Property Type: Medical/Professional building

Square Footage: Approx 25,002 SF located on 117,176 SF lot

Sale Price: $5,250,000

Seller Name: Agua Dulce Partners, LLC

Buyer Name: LMG Investments, LLC

Escrow Company: Fidelity National Title

Close of Escrow Date: December 27, 2023

Title Company: Fidelity National Title

Financing: First Citizens Bank



CONTACT INFORMATION


Robert Phillips |  Lic.  00706262

President & CEO

Tel (619) 469-3600


Vince Provenzano |  Lic.  00780182

President of Brokerage

Tel (619) 469-3600

 

 

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