Buyer Rancho Serra Mesa LLC has shelled out $6.8 million for the property, which stands on a 4.8-acre parcel located at 3203-3340 Greyling Dr. and 3352 Sandrock Rd. in the Serra Mesa neighborhood of the city. Built in 1965, the asset encompasses a total of 55,947 sf.
In the recent transaction, Rancho Serra Mesa LLC was represented by Mark McEwen of Colliers International. Mike Seiber and Nick Alford of Flocke & Avoyer acted on behalf of The Shidler Group.
"The Shidler Group has held this property for many years and has benefited from the continued growth of Serra Mesa, which is now reaching maturity," says Matt Root, a partner in the firm. "We feel we have maximized this opportunity and now plan to reinvest the proceeds in other areas of San Diego."
One of the most recent tenants to sign on to the Serra Mesa Shopping Center is Albertson's Inc., which inked a 25-year ground lease for 14,696 sf here in 2002. The space, which is located at 3332 Greyling Dr., is the new home of a Sav-On Drugs store.
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