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| Viewridge Business Park, a three-building office park totaling 72,803 square feet in San Diego’s Kearny Mesa area. |
SAN DIEGO, Calif., April 28, 2020 – JLL Capital Markets announced today that it has closed the $15.31 million sale of Viewridge Business Park, a three-building office park totaling 72,803 square feet in San Diego’s Kearny Mesa area.
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| Lynn LaChapelle |
JLL marketed the property on behalf of the seller, California-based MIG Real Estate. Dollinger Properties purchased the asset.
Viewridge Business Park is situated on 3.7 acres at 4711, 4715 and 4719 Viewridge Ave. in the heart of San Diego’s Kearny Mesa area, which is home to some of San Diego’s most prestigious national and international companies.
The property has immediate access to most of the county’s major commuter thoroughfares, including Interstates 15 and 805 and State Routes 163 and 52.
Viewridge Business Park has received $2.5 million in capital improvements over the last four years, and the two-story buildings are 93% leased to a diverse tenant mix.
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| Sach Kirpalani |
The property has immediate access to most of the county’s major commuter thoroughfares, including Interstates 15 and 805 and State Routes 163 and 52.
Viewridge Business Park has received $2.5 million in capital improvements over the last four years, and the two-story buildings are 93% leased to a diverse tenant mix.
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| Bob Prendergast |
“Viewridge Business Park represented an excellent opportunity for the buyer to acquire a quality suburban office building in one of San Diego’s best-performing submarkets,” said MIG Real Estate CEO Greg Merage.
“MIG continues to aggressively seek opportunities to acquire assets throughout the Western U.S and has significant discretionary capital to invest including a separate dedicated opportunity zone fund for development and redevelopment of multifamily, mixed use and industrial projects.”
“Dollinger Properties continues to expand its portfolio in San Diego,” added Scott Athearn, Dollinger Principal. “Viewridge Business Park represents our fourth acquisition in San Diego over the past 18 months.
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| Greg Merage |
“MIG continues to aggressively seek opportunities to acquire assets throughout the Western U.S and has significant discretionary capital to invest including a separate dedicated opportunity zone fund for development and redevelopment of multifamily, mixed use and industrial projects.”
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| Scott Athearn |
"We are attracted to the underlying strength of the San Diego economy and are seeking additional purchases.”
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
Contact:
Lynn Lachapelle, JLL Managing Director
California License #: 00898286
Phone: +1 858 410 1216
Kimberly Steele, JLL Senior Associate, Public Relations
Phone: +1 713 852 3420
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