San Diego-area buildings sell for premium

Price per square foot averages $418 over 3 deals

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Grubb & Ellis/BRE Commercial today announced it brokered the sale of three office and retail properties in San Diego County, Calif., for an aggregate price of approximately $10.6 million. In the first deal, investor Thomas Murray paid NetReit Inc. nearly $5.7 million for office space in San Marcos. The 27,132-square-foot building is located at 365 S. Rancho Santa Fe Road. In the second deal, investor Mohammed Usman sold a retail asset in La Jolla for $2.5 million. Purchased by The Dini Group La Jolla Inc., the 5,160-square-foot building is located at 7469 Draper St. In the third transaction, TZN LLC purchased 4,250 square feet of office space in Encinitas for $2.4 million. The property, sold by 533 Suites LLC, is located at 533 2nd St. ...