The 2,200-square-foot retail property in Kearny Mesa, leased by 7-Eleven at 7807 Balboa Ave., San Diego 92111, has been sold for $3.7 million, cash.
The buyer was Balboa BAB LLC, a California limited liability company, 3205 Midway Drive, Suite C, San Diego 92110.
The seller of the property (assessor's parcel 356-290-06) was VRE Balboa LLC, a Texas limited liability company. Jason Keen is the manager of VRE.
Jim Casale, a principal in the San Diego office of Lee & Associates, represented the buyers. The sellers were represented by The Sands Group.
The 7-Eleven was constructed in 2012, and at the corner of Balboa and Convoy Street, one of the busiest intersections in central San Diego.
The store has a lease on the building until 2027 with multiple options.
“This is an outstanding corner in the middle of Kearny Mesa and is a prime investment offering long-term security for my clients,” Casale said.
“We competed with multiple offers and presented a comprehensive package showing my client's expertise and our ability to close quickly on an all cash basis,” he said.
New neighborhood announced for The Spectrum
Flex buildings in Kearny Mesa on Chesapeake sold
Technology center on Balboa sold
Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.
SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.
All contents herein copyright San Diego Source ® 1994-2016