facebook

traded

+ Submit
Home

/

Deals

/

California

/

Office

/

Sale

/

8975 Balboa Avenue, San Die...

Sharp HealthCare Acquires Office Building In San Diego For $27.5M
SOLDOffice

Sharp HealthCare Acquires Office Building In San Diego For $27.5M

8975 Balboa Avenue, San Diego, California 92123, United States

$27,500,000

$289/SF

Building Size

95,000 SF

Asset Type

Office

Closing

Sep 6, 2022

AI

Sharp HealthCare has acquired an office property located at 8975 Balboa Ave in San Diego. The property, spanning 95,000 square feet, was sold by Jack Henry & Associates, Inc. The transaction was facilitated by Michael Labelle from Savills USA, representing the buyer, and Brandon Keith and Randy LaChance from Voit Real Estate, representing the seller. The sale price for the office asset was $27,500,000, resulting in a price per square foot of $289.

Summary of Transaction Details:

  • Property Type: Office
  • Transaction Amount: $27,500,000
  • Address: 8975 Balboa Ave
  • Market: San Diego
  • Buyer: Sharp HealthCare
  • Seller: Jack Henry & Associates, Inc.
  • Buyer's Rep: Michael Labelle - Savills USA
  • Seller's Rep: Brandon Keith & Randy LaChance - Voit Real Estate
  • Square Footage: 95,000
  • Price per Square Foot: $289

Michael Labelle from Savills USA represented Sharp HealthCare as the buyer in this transaction, while Brandon Keith and Randy LaChance from Voit Real Estate represented Jack Henry & Associates, Inc. as the seller. The deal marked the successful sale of this office property in San Diego, signaling a significant transaction in the real estate market.

Players

Brandon Keith

Broker

$65.4M

vol

5 deals

Broker
Savills
SavillsBrokerage

San Diego Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.58%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93