Chesapeake Corporate Center

Chesapeake Corporate Center 9555 Chesapeake Drive
San Diego, CA 92123

  • $13,000,000

    Asking Price

  • 5.50%

    In-Place Cap Rate

  • 65%

    Occupancy

  • 3.30 Years

    WALT

  • Office

    Property Type

  • 59,175

    Square Feet

Sale Summary

Address

  • 9555 Chesapeake Drive
    San Diego, CA 92123

Sale Details

  • Sale Price$12,250,000
  • Sale Price PSF$207
  • Closing Date2/14/2022

Sale Description

Chesapeake Corporate Center is a two-story, multi-tenant office building totaling 59,175 rentable square feet served by three individual lobbies, stairwells and elevators.The project has ample on-site surface parking lot, which provides an overall project parking ratio of 4.0 spaces per 1,000 SF. Cheasapeake Corporate Center also boasts an extremely flexible design and is able to accommodate tenants ranging in size from 3,000 to 27,500 square feet.

The Property is centrally located in Kearny Mesa, San Diego’s largest suburban office market and clearly, it’s most resilient. Additionally, assets located in the submarket are ideally positioned for substantial capital appreciation via the approved Kearny Mesa Community Plan Update currently underway.

Ownership has also maintained the Property to the highest standards with recent capital improvements that include; ADA upgrade to exterior and elevators, complete landscape upgrade, replacement of o ver 60% of the HVAC units, and repainting of lobbies, stairwells, and the repaving/stripping of the surface parking area.

Address

  • 9555 Chesapeake Drive
    CA 92123

Sale Details

  • Sale Price$12,250,000
  • Sale Price PSF$207
  • Closing Date2/14/2022