San Diego, CA
CBRE Arranges $36.5 Million Sale of WallyPark Parking Garage in San Diego
September 10, 2025
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Communications Manager
CBRE has arranged the $36.5 million sale of the WallyPark parking garage located at 3298 Kettner Blvd., and 1619-1646 Sassafras Street in San Diego, Calif. San Diego County Regional Airport Authority acquired the property to expand its employee parking capacity.
CBRE's Kevin Nolen and Jason Kimmel represented the seller, LR San Diego WallyPark LLC, in the transaction.
The property spans approximately 1.88 acres and includes a 997-stall structured garage and an adjacent half-acre surface lot. Operated as a WallyPark for more than 30 years, the site has long served as a dependable parking option with a loyal customer base.
"This transaction represents a win-win outcome," said Nolen, senior vice president at CBRE. "The Airport Authority secured much-needed parking capacity, while the seller achieved a successful disposition at an opportune time."
The sale marks the first major structured parking garage transaction within San Diego's Airport area in over a decade, setting a rare benchmark in a tightly held submarket.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, digital infrastructure services); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.