Grubb & Ellis/BRE Commercial negotiated the sale of Mission Grove Office Park in San Diego, Calif.
The value of the transaction was $9 million.
The office park, located at 1545-1565 Hotel Circle South, consists of two three-story, multitenant office-buildings and a two-level parking structure on 2.5 acres.
Major tenants in the park include NAI San Diego, Taylor Research, Epsilon Systems and SGPA Architecture and Planning. The project was 97 percent leased at the time of sale.
Santa Barbara, Calif.-based real estate investment company Radius Investments LLC purchased the property from Mission Grove Properties Inc., an entity of Richard D. Corona.
Grubb & Ellis/BRE Commercial represented the buyer in the transaction. NAI San Diego Commercial Real Estate represented the seller.
Grubb & Ellis/BRE Commercial is a Southern California-based commercial real estate brokerage.
***
What’s your opinion? Send your Letter to the Editor to opinion@inman.com.
