California Schools Voluntary Employee Benefits Assoc Acquires Office In San Diego For $12.2M

The office property located at 3990 Ruffin Road in San Diego spans 2.05 acres and was recently sold for $12,200,000. The transaction amounted to $267 per square foot, with a total area of 45,940 square feet. The sale was facilitated by CBRE, with the buyer being the California Schools Voluntary Employee Benefits Association and the seller being CAPL Building LLC.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $12,200,000
• Address: 3990 Ruffin Road
• Market: San Diego
• Square Footage: 45,940
• Price Per Square Foot: $267

Randy LaChance & Ryan Bracker from Voit Real Estate Services represented the buyer, California Schools Voluntary Employee Benefits Association, in the transaction. On the other side, the seller, CAPL Building LLC, was represented by Anthony DeLorenzo, Casey Sterk, Matt Harris, and Matt Pourcho from CBRE. The property was fully leased through 2024 and offered various amenities, reflecting the strong demand for office spaces in the region.