San Diego County Regional Airport Authority Acquires WallyPark Garage For $36.5M

The property asset involved in this transaction is a parking/garage facility located at 3298 Kettner Boulevard & 1619-1646 Sassafras Street in the San Diego market. The transaction was completed at a price of $36,500,000 for a 1.88-acre site that features a 997-stall garage along with an adjacent lot, representing a significant development in structured parking for the area.

Summary of transaction details:

• Property Type: Parking/Garage
• Transaction Amount: $36,500,000
• Acres: 1.88
• Buyer: San Diego County Regional Airport Authority
• Seller: LR San Diego WallyPark LLC
• Brokers: Kevin Nolen & Jason Kimmel - CBRE

This transaction marks the first major structured parking sale in over a decade in the region, focusing on expanding employee parking for the San Diego County Regional Airport Authority. The deal was brokered by Kevin Nolen and Jason Kimmel from CBRE.