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1025 Prospect Street - Prospect Square, La Jolla, CA

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1025 Prospect Street - Prospect Square

La Jolla, CA 92037-4100 - La Jolla Submarket


Property Type:Office Sub Type:- Status:Existing , Renov 2009 Year Built:1984
Stories:3 Typical Floor:11,108 SF Building Size:33,055 SF
For Sale Price:$16,250,000 Price/SF:$491.60
Cap Rate:5.90 %
Parking:88 Covered spaces @ $75.00/mo; Ratio of 2.64/1,000 SF Amenities:Signage


Prospect Square was built in 1984 and the property underwent a $3 million rehab in 2000 which included a new ground level and second level space and the installation of an escalator to the 2nd level. The ground floor consists primarily of art galleries and specialty retail stores. The 2nd floor consists of restaurants and the 3rd floor has office suites. More than half of the office space has an ocean view. The property has three levels of subterranean parking and a lobby entrance on Prospect Street.

Sale Notes:
Newmark Grubb Knight Frank Retail Capital
Markets is pleased to present the opportunity to
acquire Prospect Square, a mixed-use retail and
office building in the heart of La Jolla, one of San
Diego’s most affluent and visited communities.
Surrounded on three sides by the Pacific Ocean
and backed by the steep slopes of Mt. Soledad,
La Jolla’s coastal profile and quaint village lifestyle
evokes a Mediterranean feel. La Jolla lives up to its
nickname as “the jewel” of San Diego.
Prospect Square provides an investor the unique
opportunity to acquire generational real estate
in the prestigious southern California city of La
Jolla. Located along Prospect Street, one block
from the Pacific Ocean in the heart of La Jolla,
separates Prospect Square from the balance of the
investment market and delivers a true core holding
to the investors portfolio.


PRICE: MARKET PRICING
SQUARE FOOTAGE: 33,055
OFFERS DUE: TBD
INVESTMENT HIGHLIGHTS:
• COASTAL REAL ESTATE
• MIXED USE DEVELOPMENT
• ON-SITE PARKING
• BARRIERS TO ENTRY
• LOCATION, LOCATION, LOCATION
• RECENT RENOVATION
• DELIVERED UNENCUMBERED OF
EXISTING DEBT

Newmark Grubb Knight Frank
Rob Ippolito
(858) 875-3600

  
Newmark Grubb Knight Frank
Glenn R Rudy
(949) 608-2014




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