San Diego Office Building Sells for $11M
- Aug 05, 2019
Hill Properties has acquired Futura Business Park, a 51,229-square-foot office building in San Diego, Calif., for $11.2 million. Voit Real Estate Services represented the buyer, as well as the seller, Carleton Management, in the deal. The sale was subject to an $8.1 million loan provided by Silvergate Bank, Yardi Matrix shows.
The office building is located at 9445, 9455 and 9465 Farnham St., in the Kearny Mesa submarket, near the intersection of Interstate 15 and Freeway 52, around 11 miles from downtown San Diego and San Diego International Airport.
Constructed in 1981, the asset served as a research and development park and was converted into a multi-tenant office park in 2009. The property comprises three single-story buildings and spans 3.8 acres. Features of the building include controlled access and parking spaces. The buyer plans to upgrade both the property’s exterior and interior to meet the demands of today’s creative offices. The asset is currently leased to Mental Health Systems, Hannah’s House, Design Squared and Network Titan and ElevATE Semiconductor.
Voit Real Estate Services team included Senior Vice Presidents Randy LaChance and Arthur Bleier and Vice President Ryan Bracker. In April, the firm represented the buyer in the acquisition of Cornerstone Office Center, an office building located also in San Diego.