Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO- As the office market continues its hot investment swing, another San Diego property has changed hands. Mission Grove Office Park, a two-building, three-story property sold for $9 million.The office park counts 63,261 sf and is another addition to Santa Barbara-based real estate investment company Radius Investments LLC’s San Diego portfolio and is part of that company’s overall growth model. “We are very pleased to add the Mission Grove Office Park, which is a prime office property in a premier location,” says Radius Investments’ vice president Rhonda Henderson. Mission Grove Office Park is the second San Diego office building Radius Investments has landed in the past 12 months. In the deal, Radius Investments obtained a new $7 million trust deed from Allstate Life Insurance through William L. Chiles of L. J. Melody. Radius Investments acquired the property from Mission Grove Properties Inc., an entity of Richard D. Corona, who initially purchased the office park in a foreclosure sale in 1991. He occupied 25% of the property with his law practice, The Corona Firm. However, he relocated his firm to La Mesa last year. The office park was constructed in 1984 and is housed on a 2.51-acare lot.Major tenants in the park include NAI San Diego, Taylor Research, Epsilon Systems and SGPA Architecture and Planning. The project was 97% leased at the time of sale and amenities include free covered parking, balconies, freeway frontage onto Interstate 8, close onramp proximity and courtyards with water features.Andrew Meyers of Grubb & Ellis/BRE Commercial represented Radius Investments and Marten Barry Jr.of NAI San Diego Commercial Real Estate represented the seller. NAI San Diego will handle all leasing and property management.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.