Sumeet Parekh Of HP Investors And Realm L.P. Acquire Office Building In San Diego For $20.25M

The asset involved in this transaction is a Class A office building located at 1450 Frazee Road in San Diego's Mission Valley. The property comprises 145,000 square feet and was sold for $20,250,000, which translates to $140 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $20,250,000
• Address: 1450 Frazee Road
• Market: San Diego
• Square Footage: 145,000
• Price per Square Foot: $140
• Buyer: Sumeet Parekh - HP Investors; - Realm, L.P.

The transaction was represented by Sumeet Parekh from HP Investors and involved Realm, L.P. The building will be rebranded as Axis 1450 and is set to undergo a multi-million dollar renovation to reposition it as a value-add asset amidst strong leasing activity in the submarket.