Family Health Centers Acquires 20,987 SF Retail Property In San Diego For $11.025M

The landmark property located at 4650 Mission Bay Drive in San Diego has been sold in a transaction orchestrated by CBRE. This 1.73-acre retail property, encompassing 20,987 square feet of space, has been acquired by Family Health Centers for a price of $11,025,000. The building, which was developed in 1977, has remained under the same ownership until now, providing a rare opportunity for ownership in a prime Pacific Beach corner with flexible zoning.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $11,025,000
• Address: 4650 Mission Bay Drive
• Market: San Diego
• Acres: 1.73
• Square Footage: 20,987

Kelly Moriarty and Chris Ross from JLL represented the buyer, Family Health Centers, in this transaction. On the seller's side, Joel Wilson, Michael Peterson, Reg Kobzi, and Rosie Cooper, all from CBRE, served as the representatives. Their expertise and negotiation skills played a crucial role in this successful deal. This acquisition presents a significant opportunity for Family Health Centers to expand their presence in the San Diego market, thanks to the prime location and the building's desirable characteristics.

NOTE: The sale of 4650 Mission Bay Drive signifies a momentous event in the property's history, as it had not changed hands since its development in 1977. Family Health Centers' acquisition of this property demonstrates their commitment to strategic growth and their recognition of its potential value in the market.