Updated Sep 2, 2026
Rob McGibney Of KB Home Acquires Office Building From Baker Enterprises For $10.09M In Escondido
613 West Valley Parkway
$10,090,000
$190/SF
Building Size
53,001 SF
Asset Type
Office
Closing
Aug 28, 2026
About this deal
AI
An office building located at 613 West Valley Parkway in Escondido, CA has been sold for $10,090,000. The property measures 53,001 square feet, resulting in a price per square foot of approximately $190. This acquisition marks an atypical office investment for the homebuilder. The transaction coincides with a significant 19.8% office availability in Escondido, which presents opportunities for buyers seeking discounted commercial assets.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $10,090,000
- Buyer: Rob McGibney - KB Home
- Seller: Baker Enterprises
- Square Footage: 53,001
- Price Per Square Foot: $190
- Market: Escondido, CA
Rob McGibney, representing KB Home, is the buyer of the office building, while Baker Enterprises acted as the seller in this transaction. This sale reflects the activities of a homebuilder engaging in office real estate, highlighting a strategic interest in commercial investments.
Players
Escondido Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
About $190 per square foot on a published $10.1M for 53,001 square feet (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.57%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93