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La Plaza Investment Sells Retail Center In La Jolla For $10.2 Million With CBRE Brokers
SOLD
$10,200,000
California
See Similar DealsRetail28,866 SF
Sold 11/05/2025
SOLD
La Plaza Investment Sells Retail Center In La Jolla For $10.2 Million With CBRE Brokers
7863 Girard Avenue
See Similar DealsRetail28,866 SF
Sold 11/05/2025
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$353
Total Square Footage:28,866 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail center located at 7863-7877 Girard Avenue in the La Jolla market. The asset encompasses a total square footage of 28,866 and has been sold for a price of $10,200,000, translating to a price per square foot of $353.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,200,000
- Square Footage: 28,866
- Address: 7863-7877 Girard Avenue
- Market: La Jolla
- Seller: La Plaza Investment
- Brokers: Michael Peterson, Reg Kobzi & Jimmy Slusher - CBRE
This transaction was facilitated by CBRE, with the brokers Michael Peterson, Reg Kobzi, and Jimmy Slusher representing La Plaza Investment. The buyer is a private family office that intends to maintain the property as a fully leased retail center.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$544,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,238.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,353.20
Annual Debt Service$580,238.45
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