San Diego, CA
CBRE Brokers $6.04 Million Sale of Office Building in San Diego to a 1031 Buyer
The fully leased property is located in Scripps Ranch
February 6, 2023
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Communications Manager
CBRE arranged the sale of 10200 Willow Creek, a 23,524 -sq.-ft. office building in San Diego's submarket of Scripps Ranch to a private buyer, completing a 1031 exchange.
Matt Pourcho, Jeb Bakke, Anthony DeLorenzo, Matt Harris and Nick Williams of CBRE's Private Capital Partners represented the seller, Epsten Grinnell & Howell, APC, in the transaction. The buyer was self-represented.
"Scripps Ranch used to be a 'sleeper' submarket, but now is seeing massive life science developments and significant office tenant demand because of the office-to-lab conversions in Sorrento Mesa," said Mr. Pourcho. "Additionally, the local area is fueled by the remaining significant residential developments, 3Roots and StoneCreek."
The one-story property is situated on 2.22 acres and was built in 1980. The property has 92 parking spaces and is currently fully leased. Just minutes east of Interstate 5, the building is located at the Willow Creek and Appaloosa Roads junction.
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 a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.