CBRE Arranges $6.53 Million Sale of Office Building in San Diego to 1031 Buyer

CBRE facilitated the $6.53 million sale of 9663 Tierra Grande Street, a 26,403-square-foot office building in San Diego, Calif. A San Francisco-based private 1031 buyer acquired the property.

CBRE’s Matt Pourcho and Anthony DeLorenzo, along with Scott Kincaid, represented the seller, Tierra Grande 3B LLC, in the transaction.

“This property is a testament to stability and high demand, having maintained full occupancy for the past decade, including through the pandemic, and never experiencing more than one vacant suite,” said Pourcho, Executive Vice President at CBRE. “With nine long-standing tenants boasting an average historical occupancy of over 10 years, it represents a truly exceptional investment. Office is by no means dead in San Diego, that’s for sure. We had multiple bids within 30 days and selected a buyer quickly.”

The three-story building is on just under an acre in the Miramar submarket of San Diego. Built in the late 1980s, the property has undergone extensive renovations, offering modern amenities and an attractive environment for its diverse tenant base. Its zoning provides crucial flexibility, particularly for medical uses.

Strategically located within one minute of Interstate 15, the property provides convenient access across Southern California and to dining, hotels and retail destinations.