Lee & Associates-North San Diego County Negotiates $8.07 Million Retail Sale in La Jolla
LA JOLLA, Calif. — April 3, 2014 — Lee & Associates, the largest broker-owned commercial real estate firm in the country, has negotiated the $8.07 million sale of a CVS pharmacy in La Jolla, Calif.
Ryan Litrich, principal, and Jim Garvin, senior associate, both of Lee & Associates – North San Diego County’s office in Carlsbad, Calif., represented the seller, MacDonald Family Trust, in the transaction. Deborah Chew & Associates of San Diego represented the buyer, QWN Limited.
“This transaction represents the current state of the market: foreign capital aggressively pursuing “high-image,” credit tenant assets,” said Litrich. “This 11,900 square-foot store, located in the exclusive Bird Rock community, features high-quality exterior finishes and a subterranean parking garage that exclusively serves customers at this location.” The sale included only the leasehold interest in the property.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 49 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas, and Wisconsin that house more than 750 brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com