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Spencer Pettine Of Juniper Ridge Partners Acquires Bay Bridge Center In San Diego For $10.4M
SOLD
California
See Similar DealsMixed-use76,600 SF
Sold 06/26/2025
SOLD
Spencer Pettine Of Juniper Ridge Partners Acquires Bay Bridge Center In San Diego For $10.4M
1943 Main Street & 1995 Main Street
See Similar DealsMixed-use76,600 SF
Sold 06/26/2025
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$135
Total Square Footage:76,600 SF
Transaction Type:Sale
The mixed-use property located at 1943-1995 Main Street in San Diego was sold for $10,400,000. The asset encompasses a total of 38,300 square feet across five buildings and is situated on 2.1 acres in the Harbor/Downtown submarket.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $10,400,000
- Square Footage: 38,300
- Price per Square Foot: $272
- Buyer: Spencer Pettine - Juniper Ridge Partners
- Seller: Jon and Donna Stockholm Trust
- Brokers: Chris Holder, Mark Lewkowitz & Will Holder - Colliers
- Market: San Diego
- Acres: 2.1
Juniper Ridge Partners, represented by Spencer Pettine, acquired the fully leased Bay Bridge Center from the Jon and Donna Stockholm Trust, facilitated by brokers Chris Holder, Mark Lewkowitz, and Will Holder of Colliers.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$554,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,949.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,301.31
Annual Debt Service$591,615.67
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