May 17, 2018 Comments Off on NKF Completes $97.1M Sale of Five-Building MXU Campus in La Jolla Views: 3214 California News, San Diego

NKF Completes $97.1M Sale of Five-Building MXU Campus in La Jolla

NKF Capital Markets completed the $97.1 million sale of The Campus on Villa La Jolla, a five-building, 198,453-square-foot mixed-use campus in La Jolla, CA. Situated on 6.78 acres, the asset was acquired by GPI Companies.

Located at 8910 to 8980 Villa La Jolla Dr., west of Interstate 5, the property is 83% occupied. It includes a three-building professional center with office and medical tenants, a newly built, state-of-the-art stand-alone medical office building, and a restaurant building fully occupied by Rock Bottom Brewery & Restaurant.

NKF’s Kevin Shannon, Brunson Howard, Ken White, Paul Jones and Rick Stumm represented the seller, La Jolla Village Professional Center Associates. The buyer was self-represented.

Shannon says, “The competition for this prime coastal location was fierce, as many buyers were attracted to the upside of the opportunity via lease up and repositioning, as well the tremendous scarcity of this type of for-sale product in the UTC market.”

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