San Diego, Calif., (June 14, 2024) – Brandon Keith, Senior Vice President and Partner, of Voit Real Estate Services’ San Diego office assisted his long-standing Illinois client in adding the Aerofund Financial Plaza to their investment portfolio. CES Remington, LLC acquired the 48,571 square-foot multi-tenant office building for $9.8M million, nearly $2M under the asking price. The unique, fully leased building features great window lines in each suite with impressive views of the Valley and courtyard, covered parking, and excellent access to the I-8 and I-15 freeways.
“CES Remington has made several other commercial and residential investment purchases in San Diego over the last couple of years, and generally holds their investments on a long-term basis,” according to Keith. “They believe the office market is at or near the bottom of the negative news cycle and the after-effects of Covid.”
Keith added that his client is bullish on Mission Valley’s long-term potential. There is significant new residential development throughout the Valley and in the nearby Grantville neighborhood which will continue to drive companies to Mission Valley for their corporate office needs. Further, development of San Diego State University’s Campus West will bring additional activity and businesses to this market.
The seller, BH Camino Del Rio, LLC, more commonly known as B.H. Properties, was represented by Jeffrey Cole, Nico Napolitano, Mark Avilla, and Brooks Campbell of Cushman & Wakefield.
The property is located at 4025 Camino del Rio S in the Mission Valley neighborhood of San Diego.
About Voit Real Estate Services
Voit Real Estate Services is a privately held, broker-owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients’ needs. Throughout its more than 50-year history, the firm has completed in excess of $62.3 billion in brokerage transactions encompassing more than 56,500 brokerage deals. Voit’s unmatched expertise in Southern California brokerage, investment advisory, financial analysis, and market research enable the firm to provide clients with forward-looking strategies that create value for a wide range of assets and portfolios. Further information is available at www.voitco.com.