November 8, 2016
San Diego-based SENTRE sold a 25,380-square-foot, high-image, multi-tenant office building in Escondido, CA to an unnamed investor for $6.9 million. The asset is fully-leased to Torrance, CA-based Showprop Pico Rivera.
The freestanding two-story building sits on a 1.9-acre parcel at 800 W. Valley Pkwy. Originally developed in 2003, the asset underwent extensive renovations in 2014, and features a glass lobby entrance, high-end interior finishes, a modern, stylish exterior, and secured underground parking with elevator access.
Cushman & Wakefield’s Peter Curry represented the buyer. C&W’s Mark Avilla, Matty Sundberg and Bob Cowan represented the seller.
Curry notes the property was “in escrow for less than 24 hours,” and “was the upleg for the buyer’s 1031 exchange, which preferred an investment property in the San Diego area.”
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