Out-of-Town Buyer Picks Up Commercial Buildings in Miramar for $17.15M

A commercial building on Camino Santa Fe in Miramar has been sold for $17.15 million, according to a real estate firm.

Matt Pourcho, Anthony DeLorenzo, Matt Harris and Casey Sterk of CBRE’s Investment Properties represented Hill Properties and Westport Capital Partners, the seller, in the transaction.

CSF LLC purchased the multi-tenant property. The price breaks down to $282 per square foot.

“We continue to find out-of-town, high-net-worth capital as the most aggressive buyer pool in San Diego,” said Pourcho, an executive vice president with CBRE. “This buyer was looking for a stable secure cash-flowing property and it was a perfect fit.”

The two-building property, at 8250-8260 Camino Santa Fe, sits on 3.66 acres. Together, the buildings total nearly 61,000 square feet. Eight tenants currently lease space in the buildings, which were at 96% occupancy at the time of sale.

Built in the late 1980s, the property has recently undergone extensive capital improvements, including new exterior paint, suite and directional signage, monument signage, parking lot resurfacing and new landscaping.

Chris Nelson with Matthews Real Estate and Brian Reyes of Tangram Commercial represented CSF LLC in the transaction.