 |
| Herschel & Wall Building, La Jolla Neighborhood, 7911 Herschel Avenue and 1100 Wall Street San Diego, CA |
 |
| Nick Psyllos |
SAN DIEGO, CA – HFF announced it has closed the sale of
Herschel & Wall, a 36,565-square-foot, mixed-use office and retail building
in San Diego’s La Jolla neighborhood.
HFF
marketed the asset on behalf of the seller, a joint venture between Parallel
Capital Partners, Inc. and Angelo, Gordon & Co. A partnership between MHF Real Estate Group and McCarthy Ranch
purchased the asset.
Herschel & Wall is located at 7911 Herschel Avenue and
1100 Wall Street in the coastal community of La Jolla, a neighborhood in
northern San Diego. Herschel & Wall
is less than a quarter mile from the Pacific Ocean at La Jolla Cove and
approximately 13 miles from downtown San Diego.
The property has 39 parking spaces, abundant community
amenities (Walk Score® of 98) and a newly-renovated lobby.
Major tenants of the four-story building
include Citibank, Tommy Bahama and Four Star Software. The buyer plans to convert the third and
fourth floors to high-end creative office space with premium ocean views.
 |
| Nick Frasco |
The
HFF investment sales team representing the seller was led by senior managing
director Nick Psyllos, senior managing director and co-head of HFF’s
national office investment sales platform Michael Leggett, director Nick
Frasco, managing director Nick Bicardo and senior real estate
analyst Kara Mathis.
“The Herschel & Wall building is an iconic mixed-use
office and retail property on one of the best-located, highly-trafficked
intersections in the affluent coastal La Jolla Village area of San Diego,”
Frasco said.
“The property was
built prior to the implementation of the building height restrictions in the
area and features above-standard floor-to-floor heights and superior ocean
views, allowing for a repositioning of the top three floors into modern,
progressive office space.
Additionally, the
zoning potentially allows for a future residential condominium conversion,
further enhancing the value-add opportunity presented by the asset.”
For a complete
copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
No comments:
Post a Comment