Updated Oct 28, 2024
Tourmaline Capital Acquires Retail Property In San Diego For $10.5M
291 Fletcher Parkway, El Cajon, San Diego, CA, USA
$10,500,000
$90/SF
Building Size
115,612 SF
Asset Type
Retail
Closing
Aug 23, 2021
About this deal
AI
The retail property located at 291 Fletcher Parkway in San Diego has been sold. The transaction took place on August 23, 2021, and the buyer is Tourmaline Capital, represented by Jonathan Cheng. The seller of the property is Macy's. The deal was facilitated by brokers Daniel Tyner and Gleb Lvovich from JLL.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $10,500,000
- Address: 291 Fletcher Parkway, San Diego
- Market: San Diego
- Buyer: Tourmaline Capital - Jonathan Cheng
- Seller: Macy's
- Brokers: Daniel Tyner & Gleb Lvovich - JLL
- Square Footage: 115,612 SF
- Price per Square Foot: $90
This sale transaction is significant as it involves a retail property with a substantial square footage of 115,612 SF. The sale price of $10,500,000 indicates the market value in San Diego. Tourmaline Capital, represented by Jonathan Cheng, made the purchase from Macy's, highlighting their interest in the retail sector. The involvement of brokers Daniel Tyner and Gleb Lvovich from JLL showcases their expertise in facilitating such deals.
Players
El Cajon Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Gleb Lvovich to view all their deals.
Browse California retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93