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Associa - Net Leased Office Building

9610 Waples Street
San Diego, CA 92121
Shipping: Marcus & Millichap is pleased to present the sale 9610 Waples Street, San Diego, CA 92121 a 33,000 square foot, single-tenant office building. The property is 100% leased to Associa (www.associaonline.com), the world’s largest community association management firm. Headquartered in Dallas, Texas, Associa was formed in 1979 and has grown to 185 offices globally with over 9,000 employees.
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Description





Agents

BEN TASHAKORIAN | FIRST VICE PRESIDENT


Senior Director: Institutional Property Advisors (IPA)
License: CA 01333884
Dir: (858) 373-3176
Fax: (858) 373-3110
btashakorian@ipausa.com

Jessie Prentice | Associate

Member: NOIPG
License: CA 01950905
Cel: (917) 331-4449
Dir: (858) 373-3212
jessie.prentice@marcusmillichap.com

Description

Marcus & Millichap is pleased to present for sale 9610 Waples Street, San Diego, CA 92121 a 33,000 square foot, single-tenant office building. The property is 100% leased to Associa (www.associaonline.com), the world’s largest community association management firm. Headquartered in Dallas, Texas, Associa was formed in 1979 and has grown to 185 offices globally with over 9,000 employees. Associa has operated out of the subject property for the past 10 years and will sign a new seven-year NNN lease at the Close of Escrow.

The property is situated in the heart of San Diego’s Sorrento Mesa neighborhood, a business hub for telecommunications, wireless applications, and biotechnology research. Qualcomm, Texas Instruments, AT&T, Sony, Cingular Wireless, and the Federal Bureau of Investigation are a few of the notable businesses that operate in the area. The property offers convenient access to I-5, I-805, and I-15 freeways and is located within walking distance to amenities, breweries, and fitness clubs.

The building underwent significant renovations in 2013 at a cost of approximately $750,000. It is elevator-served and offers signage from Mira Mesa Blvd. This offering provides an investor with a rare opportunity to acquire a well-maintained office building in a trophy location that is leased on a long-term basis to an international, credit tenant.

Features

  • Long Term, Single Tenant Office Building in Sorrento Mesa
  • Tenant will sign a 7 Year NNN Lease at closing
  • Excellent Credit Tenant: Top Association Management Firm in the United States; 9,000 + global employees and 185 offices
  • Recently Renovated: Over $750,000 in improvements since 2013
  • Desirable Sorrento Mesa Location & Excellent Signage Potential from Mira Mesa Blvd
  • Quick and Easy access to I-805, I-5, and I-15 Freeways

Price

$7,000,000

Price / SF

$217

RBA

33,008 SF

Tenancy

Single

Year Built

1989

Land Area

1.68 AC

Lease Term

7 Years from COE

Rent Increases

2% Annual

Details

Shipping Information

  • Item Requires Shipping
  • Marcus & Millichap is pleased to present the sale 9610 Waples Street, San Diego, CA 92121 a 33,000 square foot, single-tenant office building. The property is 100% leased to Associa (www.associaonline.com), the world’s largest community association management firm. Headquartered in Dallas, Texas, Associa was formed in 1979 and has grown to 185 offices globally with over 9,000 employees.

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