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Crown Point Systems Acquires Medical Office In San Diego For $7.4M

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SOLD
$7,400,000

California

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28 SF
Sold 11/28/2022
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Property Image
SOLD

Crown Point Systems Acquires Medical Office In San Diego For $7.4M

3051 Sunset Place, San Diego, California 92110, United States

See Similar Deals
28 SF
Sold 11/28/2022
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Summary

CALIFORNIA
Price Per Square Foot:$264,285
Total Square Footage:28 SF
Transaction Type:Sale

A medical office asset located at 3051-3055 Rosecrans St. & 3065 Rosecrans Place in San Diego has been sold for a total of $7,400,000. The property spans a total square footage of 28,630, resulting in a price per square foot of $258. The sale took place on 11/28/2022.

Summary of Transation Details

  • Property Type: Medical Office
  • Transaction Amount: $7,400,000
  • Address: 3051-3055 Rosecrans St. & 3065 Rosecrans Place, San Diego
  • Market: San Diego
  • Buyer: Crown Point Systems
  • Seller: Loma Starr LLC
  • Buyer's Representative: Bret Morriss - Cast Capital
  • Seller's Representatives: Peter Curry, Brooks Campbell & Kevin Cuff - Private Capital Group - Cushman & Wakefield
  • Square Footage: 28,630
  • Price per Square Foot: $258

The deal was facilitated by Bret Morriss from Cast Capital, representing the buyer, Crown Point Systems. On the seller's side, Peter Curry, Brooks Campbell, and Kevin Cuff from Private Capital Group - Cushman & Wakefield represented Loma Starr LLC. The transaction highlights the involvement of key individuals and companies in successfully closing the deal.

Players

Brooks Campbell
8 deals$80.6M volume(760) 431-4215
BROKER

Peter Curry
Cushman & Wakefield
16 deals$186.1M volume
BROKER

Kevin Cuff
Cushman & Wakefield
4 deals$23.9M volume
BROKER

Details

SOLD
IMAGE: Bret Morriss DATE: 11/28/2022 ADDRESS: 3051-3055 Rosecrans St. & 3065 Rosecrans Place MARKET: San Diego ASSET TYPE: Medical Office BUYER: Crown Point Systems SELLER: Loma Starr LLC BUYER'S REP: Bret Morriss (@BMorriss) - Cast Capital (@CastCP) SELLER'S REP: Peter Curry, Brooks Campbell & Kevin Cuff - Private Capital Group - Cushman & Wakefield (@CushWake) SALE PRICE: $7,400,000 SF: 28,630 ~ PPSF: $258

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$26,290.63
Cash-on-Cash Return-1.27%
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