City Group has sold the two-building Center Point, Mission Valley office campus for $17.96 million to San Diego-based M.C. Strauss Company. The sale of the 79,215-square-foot business campus was brokered by Cushman & Wakefield.
“Center Point, Mission Valley is a high quality, centrally located suburban coastal asset that has enjoyed continuous occupancy stability during all phases of the real estate cycle, posting an impressive year-end average occupancy well above 90% over the past decade,” Rick Reeder, Executive Managing Director at Cushman & Wakefield. “The campus has a diverse rent roll of quality tenants that is led by a strong anchor tenant.” The office campus is located at 3110-3160 Camino Del Rio South in Mission Valley. It is around 91.2 percent leased.
Reeder and Brad Tecca of Cushman & Wakefield Capital Markets in San Diego represented both the buyer and seller in the deal. Derek Applbaum, senior vice president at Colliers International, was the leasing advisor.
By: Karen Jordan