JLL Capital Markets has announced the sale and financing of The Headquarters, a 73,823-square-foot open-air shopping center located in the Marina District of San Diego. The transaction was finalized at a price of $34.875 million.
The property, situated at 789 W Harbor Drive, sits at the entrance of the popular Seaport Village waterfront area. Formerly home to the San Diego Police Department headquarters, the site was fully repositioned in 2013 into a distinctive retail destination.
An Investment Sales and Advisory team from JLL, led by Senior Managing Directors Gleb Lvovich and Geoff Tranchina, along with Managing Director Daniel Tyner, represented the seller, a private real estate investment firm. JLL’s Debt Advisory team, including Senior Managing Director Gregg Shapiro and Managing Director John Marshall, arranged the acquisition financing on behalf of the buyer, a private real estate partnership.
“The sale of The Headquarters represents a rare opportunity to acquire a waterfront asset with upside potential in one of America’s most desirable coastal markets,” said Lvovich. “The property’s unique positioning as the gateway to downtown San Diego’s premier entertainment district, combined with its authentic environment and strong tenant roster, made it highly attractive to investors seeking irreplaceable real estate.”
