Just Acquired - 55,943 SF Multi-Tenant Office Building

12.29.17

Property Address: 8787 Complex Drive, San Diego, CA 92123

Summary of Sale: Mike Conger and Brian Jenkins of ECP Commercial represented the Buyer of 8787 Complex Dr. San Diego, CA 92123. The property is an approximately 55,943 square foot multi-tenant four story office building situated on 1.59 acres. Originally built in 1978 the project was significantly redeveloped by Gensler Design with approximately three million dollars in capital which was completed first quarter 2014. The building was purchased by a local investors, PWI Complex, LP. The Seller (Marquis Property Company) was represented by Matt Midura, Doug Ceresia, and Josh Buchholz of NAI San Diego. David Hamilton with Pacific Southwest Realty Services arranged the financing. Chicago Title assisted with Title and Escrow.

Description: 55,943 square foot multi-tenant office building

Sale Price: $12,100,000

Seller: Marquis Property Company (Malibu, CA)

Buyer: PWI Complex, LP (San Diego, CA)

In Place Cap Rate: Approximately 7%

Occupancy: Approximately 86%

Buyer: PWI Complex, LP (San Diego, CA)

Seller: Marquis Property Company (Malibu, CA)

Buyer Representation: Mike Conger and Brian Jenkins of ECP Commercial

Seller Representation: Matt Midura, Doug Ceresia, and Josh Buchholz of NAI San Diego

Financing: David Hamilton Pacific Southwest Realty Services

Title/Escrow: Chicago Title

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