Tourmaline Capital Acquires Retail Property In San Diego For $10.5M

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.