March 6, 2017
La Jolla Fay LLC acquired La Jolla Galleria, a 54,000-square-foot, Class A office building in historic downtown La Jolla, CA from J.N. Daniel LLC for an undisclosed price. The buyer was a long-term tenant that exercised its right to purchase the building just 18 months after signing a long-term lease.
The four-story property is located at 7777 Fay Ave. It includes three floors of office above ground-floor retail, and was 100% leased. The buyer occupies roughly 10,000 square feet in the building, with the residual square footage serving as an investment.
Colliers International’s Bill Shrader represented the buyer. Cushman & Wakefield’s Pascal Aubry-Dumand represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser