Jones Lang LaSalle Inc.

11/25/2024 | Press release | Distributed by Public on 11/25/2024 13:56

$9.95M sale of San Diego-area office building completed

SAN DIEGO, Nov. 25, 2024 - JLL Capital Markets announced today that it has closed the $9.95 million sale of 16980 Via Tazon, a fully vacant office/flex building totaling 35,312 square feet in San Diego, California.

JLL represented the seller, Montana Avenue Capital Partners. A private investor purchased the property all cash, in an off-market transaction. The sale represents a successful completion of Montana's investment in a four-building portfolio acquired in 2021.

Situated just west of the 15 Freeway in Rancho Bernardo, 16980 Via Tazon is approximately 25 miles north of downtown San Diego. The property enjoys a strategic position within a well-established business hub, neighboring industry leaders like Apple, Sony, Northrup Grumman, Hewlett-Packard and BAE Systems.

Originally built in 1984, 16980 Via Tazon is a single-story office/flex property that can accommodate a variety of uses, including wet/dry lab, manufacturing and creative office space. The building features 14 to 16-foot clear heights and roll-up doors for grade-level loading.

JLL's Capital Markets Investment Sales and Advisory team was led by Managing Directors Bob Prendergast and Lynn LaChapelle and Senior Analyst Zac Saloff.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL's newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

Montana Avenue Capital Partners (MAC) is a real estate investment, management and development company headquartered in Los Angeles, California.