Sabre Springs Executive Center
48,435 SF | 100% Leased | Office Building | San Diego, CA 92128 | For Sale
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Office
- Square Feet
- 48,435 SF
Listing Contacts
Matt Pourcho
Verified Profile
Matthew Harris
Verified Profile
- Property Info
Property Overview
Download Offering Memorandum https://www.ipsocal.com/properties/13400sabresprings/
INVESTMENT HIGHLIGHTS
100% LEASED STABLE OFFICE BUILDING | DENSE FORTUNE 500 LOCATION
* Situated in San Diego’s unique freeway intersection market “Sabre Springs”, Sabre Springs Executive Center (SSEC) is surrounded by San Diego's largest employers and a dense concentration of Fortune 500 Companies including Apple, Amazon, Google, HP, Intel, Sony, Intuit, BAE Systems, Scripps, Petco, Northrop Grumman, General Atomics and many other leading technology and defense related companies.
* Apple recently purchased a new 67-acre campus for $445M just 4.9 miles north of the subject property and has announced its intent to employ over 5,000 workers locally by 2026.
* SSEC has consistently maintained high occupancy rates over the past 15 years. The property has enjoyed an average occupancy rate exceeding 95% for the past 10 plus years and weathered the pandemic time period without granting any rent concessions.
“BY RIGHT” OFFICE TO RESIDENTIAL CONVERSION
* Located within the Tier 4 Complete Communities zone. Tier 4 Complete Communities allows for by-right development of the site under an FAR based code versus the density-based code of CO-1-2 if the City of San Diego Ordinance 21275 is followed. Please reach out to Rosie Cooper for details.
* Zoning is CO-1-2 which is intended to accommodate a mix of office and residential uses that serve as an employment center and permits a maximum density of 1 dwelling unit for each 1,500 square feet of lot area (see OM for further details).
ACCESS TO EMPLOYMENT, AFFLUENT DEMOGRAPHIC BASE, EXCEPTIONAL AMENITIES AND QUALITY OF LIFE
* The property is adjacent to an MTS stop and exceptional ingress/egress. It is also adjacent to I-15 and CA-56/Ted Williams Parkway, which provide immediate access to the area’s major employment hubs including Poway (+20,000 jobs), Rancho Bernardo (+30,000 jobs), Torrey Pines (+65,000 jobs), Sorrento Mesa (+49,000 Jobs), UTC (+140,000 jobs), and Del Mar (+25,000 jobs). Additionally, within a 20-mile radius, residents will have access to nearly 1.3 million jobs.
* With over 2.5 million square feet of retail within a 2-mile radius, the property offers future residents a wide variety of essential retail and services including Trader Joe’s, Ralphs, Costco, The Home Depot, Target, Stater Bros, 24Hour Fitness and Krispy Kreme Donuts.
* Located in the San Diego community of Sabre Springs, the property benefits from being in one of the most sought after and affluent communities in the County, with an average household income of over $157,257 (zip code 92128) and average home sales within the last 3 months averaging above $1.3 Million.
INVESTMENT HIGHLIGHTS
100% LEASED STABLE OFFICE BUILDING | DENSE FORTUNE 500 LOCATION
* Situated in San Diego’s unique freeway intersection market “Sabre Springs”, Sabre Springs Executive Center (SSEC) is surrounded by San Diego's largest employers and a dense concentration of Fortune 500 Companies including Apple, Amazon, Google, HP, Intel, Sony, Intuit, BAE Systems, Scripps, Petco, Northrop Grumman, General Atomics and many other leading technology and defense related companies.
* Apple recently purchased a new 67-acre campus for $445M just 4.9 miles north of the subject property and has announced its intent to employ over 5,000 workers locally by 2026.
* SSEC has consistently maintained high occupancy rates over the past 15 years. The property has enjoyed an average occupancy rate exceeding 95% for the past 10 plus years and weathered the pandemic time period without granting any rent concessions.
“BY RIGHT” OFFICE TO RESIDENTIAL CONVERSION
* Located within the Tier 4 Complete Communities zone. Tier 4 Complete Communities allows for by-right development of the site under an FAR based code versus the density-based code of CO-1-2 if the City of San Diego Ordinance 21275 is followed. Please reach out to Rosie Cooper for details.
* Zoning is CO-1-2 which is intended to accommodate a mix of office and residential uses that serve as an employment center and permits a maximum density of 1 dwelling unit for each 1,500 square feet of lot area (see OM for further details).
ACCESS TO EMPLOYMENT, AFFLUENT DEMOGRAPHIC BASE, EXCEPTIONAL AMENITIES AND QUALITY OF LIFE
* The property is adjacent to an MTS stop and exceptional ingress/egress. It is also adjacent to I-15 and CA-56/Ted Williams Parkway, which provide immediate access to the area’s major employment hubs including Poway (+20,000 jobs), Rancho Bernardo (+30,000 jobs), Torrey Pines (+65,000 jobs), Sorrento Mesa (+49,000 Jobs), UTC (+140,000 jobs), and Del Mar (+25,000 jobs). Additionally, within a 20-mile radius, residents will have access to nearly 1.3 million jobs.
* With over 2.5 million square feet of retail within a 2-mile radius, the property offers future residents a wide variety of essential retail and services including Trader Joe’s, Ralphs, Costco, The Home Depot, Target, Stater Bros, 24Hour Fitness and Krispy Kreme Donuts.
* Located in the San Diego community of Sabre Springs, the property benefits from being in one of the most sought after and affluent communities in the County, with an average household income of over $157,257 (zip code 92128) and average home sales within the last 3 months averaging above $1.3 Million.
Property Details
- Class
- B
- Year Built
- 2002
- Stories
- 2
- Lot Size (sq. ft)
- 139,392 SF
Highlights
- “BY RIGHT” OFFICE TO RESIDENTIAL CONVERSION
- 100% LEASED STABLE OFFICE BUILDING | DENSE FORTUNE 500 LOCATION
Nearby Properties
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