The Deal of the Week was listed by Matt Carlson, Mickey Morera and Jeff Brown, of Cushman & Wakefield.
The deal was the sale of the three-building, 160,549-square-foot Commerce Point office complex at 3970, 3980 and 3990 Sherman St., San Diego, for $17.25 million.
The buyer was LLJ Office Ventures 3 LLC, of San Diego. The manager of LLJ Office is LLJ Ventures LLC, with Leonardo Simpser as the manager. The acquisition was financed with a loan of $15.05 million from Western Alliance Bank.
The seller of the property was PS Ivanhoe LLC, with The Price Group LLC as manager. Sherry S. Bahrambeygui is the manager of PS Ivanhoe.
The two-story buildings at 3970 (62,701 square feet), 3980 (73,744) and 3990 (24,104) were constructed in 1983 on a 6.46-acre lot. The property was formerly occupied by Hughes Aircraft Corp. and Teledyne Ryan.
The property was sold in June 2008 for $13.1 million.