SAN DIEGO, Calif. (April 1, 2022) — A flex-industrial building designed as a corporate headquarters sold for $8,982,000 on March 11, 2022, Commercial Asset Advisors announced. The two-story, 24,614-square-foot building is located in the Kearny Mesa area at 4851 Paramount Dr., San Diego, CA 92123.
Mike Conger and Brian Jenkins of Commercial Asset Advisors coordinated the successful sale. The seller and buyer were not disclosed.
“Kearny Mesa is one of the most prominent business hubs in San Diego, with dynamic growth continuing to accelerate,” said CAA Principal Mike Conger. “Through this sale we were able to help our seller capitalize on record-high demand for flex-industrial buildings in San Diego. At the same time, the investor buyer was able to acquire this high-value asset through a 1031 tax-deferred exchange.”
CAA has represented multiple buyers and sellers in all product types this year all over San Diego County, demonstrating the firm’s ability to maximize values regardless of product type, location, or situation.
About Commercial Asset Advisors
Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,400 sale and lease transactions totaling over $500 million in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.