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Kearny Mesa 7-Eleven building on Balboa sold

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.

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