Updated Oct 29, 2024
Aroga Real Estate Buys 18000 SF Office In San Diego For $7.5M
5657 Copley Dr, San Diego, CA, 92111
$7,500,000
$416/SF
Building Size
18,000 SF
Asset Type
Office
Closing
Nov 22, 2023
About this deal
AI
The property at 5657 Copley Drive, an 18,000-square-foot office building in the Kearny Mesa submarket of San Diego, was sold for $7.5 million. The asset is fully triple net-leased to MRC, serving as their headquarters. Located east of I-805, the building features amenities such as a marble entryway, EV charging, and 85 parking stalls.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,500,000.00
- Market: San Diego
- Buyer: Aroga Real Estate
- Seller: Undisclosed
- SF: 18,000
- Buyer's Rep: Todd Holley (Voit Real Estate Services)
Matt Pourcho, Matt Harris, Anthony DeLorenzo, and Bryan Johnson of CBRE’s Private Capital Partners represented the seller in the transaction, while Todd Holley from Voit Real Estate Services acted as Aroga Real Estate's representative. The sale price equated to $412 per square foot amidst strong demand from private 1031 capital.
San Diego Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93