The California-based general partnership Greene & Greene has purchased the asset from Genesis California Properties LLC. Encompassing 6,877-sf, the property is located at 4180 Avenida de la Plata. The building's current tenant, Navy Federal Credit Union, will continue to occupy the facility for the remaining five years of its lease. The buyer, Greene & Greene, plans to hold the recently acquired facility as an investment.
Jim Benson of Coldwell Banker Commercial–North County Properties acted on behalf of Greene & Greene. The seller, Genesis California Properties LLC, was represented by Matthew Campbell of BRE Commercial/NAI.
Sales activity is still going strong in San Diego County's commercial real estate markets, which have seen a steady flow of investment capital in recent months. With its diversified economy, booming population growth and low unemployment rates, the region continues to be a favorite among commercial real estate investors.
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