Updated Dec 4, 2024
Clarion Partners, LLC & HP Investors Sell Kearny Mesa Retail Property For $90M
Kearny Mesa, San Diego, California, United States
$90,000,000
$463/SF
Building Size
194,000 SF
Asset Type
Retail
Closing
May 16, 2022
About this deal
AI
The property involved in this transaction is a retail asset located in Kearny Mesa, with a total square footage of 194,000. The property was sold by Clarion Partners, LLC & HP Investors. The transaction was facilitated by Gleb Lvovich from JLL Capital Markets. The sale price for this property was $90,000,000, resulting in a price per square foot of $463.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $90,000,000
- Square Footage: 194,000
- Price per Square Foot: $463
- Seller: Clarion Partners, LLC & HP Investors
- Broker: Gleb Lvovich - JLL Capital Markets
Gleb Lvovich from JLL Capital Markets played a pivotal role in representing the seller during this transaction. His expertise in the market helped facilitate the successful sale of the retail property in Kearny Mesa.
Players
San Diego Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93