Two-story office building in Kearney Mesa trades for $12.35M

SAN DIEGO, Mar. 18, 2025 – JLL Capital Markets announced today that it has completed the $12.35 million sale of 8965 Balboa Avenue, a 27,761-square-foot office building in San Diego, California.

JLL represented the seller, Dollinger Properties, while Cushman and Wakefield represented the buyer, Sharp HealthCare.

8965 Balboa Avenue is located in the Kearny Mesa submarket of San Diego, one of the most centrally located and stable office submarkets in the city. Kearny Mesa offers excellent access to both executive and affordable housing and is a preferred suburban location for many professional services and regional sales firms. The property is positioned between two of San Diego's north-south arteries, Interstate 15 and State Route 163, providing quick access to most of the county. Additionally, it is immediately adjacent to the Montgomery Gibbs Executive Airport, which serves as a hub for private and corporate aviation.

Originally built in 1985, the property is currently 100% leased to the County of San Diego, which has been onsite since 2002.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Bob Prendergast and Lynn LaChapelle, along with Associate Zac Saloff. Cushman & Wakefield’s Mike Labelle and Bridget Gossett represented Sharp HealthCare.

This sale marks one of several recent owner/user office sales in Kearny Mesa, highlighting the area's desirability for firms and affirming their long-term commitment to the region.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

Dollinger Properties is a vertically integrated, family-owned business focused on the acquisition of multi-tenant R&D/Industrial flex, multi-family and retail properties for long-term ownership. Its owns and manages over 90 premier properties in California representing over seven million square feet.