$9.95M sale of San Diego-area office building completed
JLL Capital Markets led the sales efforts for 16980 Via Tazon, a fully vacant, 35,312 SF office property in Rancho Bernardo
SAN DIEGO, Nov. 25, 2024 – JLL Capital Markets announced today that it has closed the $9.95 million sale of 16980 Via Tazon, a fully vacant office/flex building totaling 35,312 square feet in San Diego, California.
JLL represented the seller, Montana Avenue Capital Partners. A private investor purchased the property all cash, in an off-market transaction. The sale represents a successful completion of Montana’s investment in a four-building portfolio acquired in 2021.
Situated just west of the 15 Freeway in Rancho Bernardo, 16980 Via Tazon is approximately 25 miles north of downtown San Diego. The property enjoys a strategic position within a well-established business hub, neighboring industry leaders like Apple, Sony, Northrup Grumman, Hewlett-Packard and BAE Systems.
Originally built in 1984, 16980 Via Tazon is a single-story office/flex property that can accommodate a variety of uses, including wet/dry lab, manufacturing and creative office space. The building features 14 to 16-foot clear heights and roll-up doors for grade-level loading.
JLL’s Capital Markets Investment Sales and Advisory team was led by Managing Directors Bob Prendergast and Lynn LaChapelle and Senior Analyst Zac Saloff.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Montana Avenue Capital Partners
Montana Avenue Capital Partners (MAC) is a real estate investment, management and development company headquartered in Los Angeles, California.