FedEx property sold in San Diego

Global shipping co. to retain occupancy

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Grubb & Ellis/BRE Commercial represented Hibiscus Investments in the purchase of the 76,822-square-foot Federal Express Building in San Diego, Calif. The value of the transaction was approximately $9.5 million.  The project, located at 1650 47th St., sits on 6.5 acres and is the office of Federal Express. The seller of the property was FEB San Diego. San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....