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