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.
On the Map
$90,000,000
$463/SF
Retail
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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