Voit Real Estate Services Sells Fully Leased Office Building In San Diego For $17M
9573 Chesapeake Drive
$17,000,000
$314/SF
Building Size
54,000 SF
Asset Type
Office
Closing
Mar 28, 2024
AI
An office building located at 9573 & 9577 Chesapeake Drive in San Diego's Kearny Mesa submarket was recently sold for $17 million ($315 per square foot). The transaction was handled by Brandon Keith and Randy LaChance of Voit Real Estate Services.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $17,000,000
- Address: 9573 & 9577 Chesapeake Drive
- Market: San Diego
- Square Footage: 54,000
- Brokers: Brandon Keith & Randy LaChance - Voit Real Estate Services
The office building, fully leased and spanning two stories, was successfully sold by Voit Real Estate Services in a deal brokered by Brandon Keith and Randy LaChance. The identities of the buyer and seller remain undisclosed in this transaction.
Players
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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93