Daniel Negari Of XYZ.rent Acquires 225 Broadway Office Building In San Diego For $48M

The office asset at 225 Broadway in San Diego was sold for $48 million, reflecting a price per square foot of $132. The building encompasses a total area of 363,102 square feet and is situated in a prominent downtown location. It is currently 84% leased to tenants including the Federal Defenders of San Diego.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $48,000,000
• Square Footage: 363,102
• Price per Square Foot: $132
• Buyer: Daniel Negari - XYZ.rent
• Seller: Donald Bren - Irvine Company
• Broker: Adam Edwards - Eastdil Secured
• Market: San Diego

XYZ.rent, represented by Daniel Negari, acquired the property from Donald Bren of Irvine Company. The deal was facilitated by broker Adam Edwards from Eastdil Secured. Following the acquisition, XYZ.rent aims to enhance operational efficiency and improve retail spaces in the vicinity.