JLL represented the seller in the transaction
News release
11 October 2023
Owner-user acquires 10,000 SF building in San Diego
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SAN DIEGO, Oct. 12, 2023 – JLL announced today that GK Dermatology and Med Spa has acquired a 10,000-square-foot freestanding retail building located at 4606 Mission Bay Drive in San Diego, California for $5.25 million. GK Dermatology and Med Spa will use the building for its dermatology and med spa practice.
JLL’s Chris Baumgart, Steven Field and Bryan Cunningham represented the seller, SMP Realty, LLC, a local sewing machine business who will continue to operate out of their other San Diego locations. The buyer was represented by Ron Graves of Coldwell Banker Commercial.
"The sale reflects continued demand we see in the “Owner-User” ’market here in San Diego, where the cost to own is generally more favourable compared to leasing,” said Chris Baumgart, JLL Executive Vice President. “4606 Mission Bay Drive provides the buyer with a good retail location and access to the coastal communities in Pacific Beach and Mission Bay.
4606 Mission Bay Drive is ideally located in the coastal community of Mission Bay with immediate access to Interstate 5. The property features adjacent lot used for expanded parking and has excellent street frontage.
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 106,000 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.