radius investments | MISSION GROVE OFFICE PARK

Radius Investments Acquires the Mission Grove Office Park Santa Barbara – Radius Investments, LLC, a Santa Barbara based real estate investment company, announced it acquired the Mission Grove Office Park located at 1545-1565 Hotel Circle South in San Diego for just under $10 Million. The office park consists of two three-story multi-tenant office-buildings and a two-level parking structure on 2.51 acres (assessor’s parcel number 443-040-21). Major tenants in the office park include NAI San Diego, Taylor Research, Epsilon Systems, and SGPA Architecture and Planning. The project was 97% leased at time of sale, which is ascribed to its high level of free covered parking, operable windows, balconies, freeway frontage onto Interstate 8, close onramp proximity, and courtyards with water features.  "We are very pleased to add the Mission Grove Office Park to our real estate portfolio, especially with its prime Mission Valley location" said Radius Investments President Stephen J. Brown. This is the second San Diego office building acquired by Radius Investments in the past 12 months. After defeasing the existing financing, Radius Investments obtained a new $7 million trust deed from Allstate Life Insurance through William L. Chiles of L. J. Melody. Andrew Meyers, SIOR, of Grubb & Ellis | BRE Commercial represented the buyer. Marten Barry, Jr., SIOR, of NAI San Diego Commercial Real Estate represented the seller. NAI San Diego has been retained by Radius Investments to oversee the leasing and property management. Radius Investments, LLC’s mission is to provide exceptional real estate investment opportunities for its clients that maximize value and minimize risk. Radius continues to actively expand their existing Southern California real estate portfolio.