Sunday, September 6, 2015

HFF closes $6.3 million sale of and secures $4.35 million financing for Vista La Jolla Corporate Center in San Diego, CA


Vista La Jolla Corporate Center, 4747 Morena Boulevard, Rose Canyon Submarket,
 San Diego County, CA

Nick Frasco
SAN DIEGO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $6.3 million sale of and secured $4.35 million acquisition financing for Vista La Jolla Corporate Center, a 39,950-square-foot, multi-tenant office building in San Diego, California.

HFF marketed the asset on behalf of the seller, VLJ, LP.  The property was purchased by J & J Properties – La Jolla, LLC, a division of J & J Real Properties, LLC.  

Additionally, HFF secured the 69-percent-loan-to-value, 10-year, fixed-rate acquisition loan for the buyer through a CMBS lender with two years interest-only. 

Vista La Jolla Corporate Center is located at 4747 Morena Boulevard in the Rose Canyon submarket of San Diego County, near La Jolla, downtown and University Town Center. 

Situated on 2.05 acres just off Interstate 5, the property features prominent visibility with a traffic count of more than 200,000 cars per day. The three-story building was 88 percent leased at the time of sale to 11 tenants with a weighted average remaining lease term of more than three years.

The HFF investment sales team representing the seller was led by director Nick Frasco.  J & J Properties – La Jolla, LLC was represented by Frederic Esrailian, of FTE Realty, Inc.

The HFF debt placement team representing the borrower was led by senior managing director Aldon Cole.

For a complete copy of the company’s news release, please contact:       

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com



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