San Diego’s downtown district is known for its business ecosystem, bustling entertainment options and vibrant city life. Among its many offerings, the Class A office building at 1200 Fourth Ave. has recently been made available for sale. This two-story, 22,486-square-foot property is currently on the market for $12.5 million, or about $555 per square foot, according to the marketing brochure from CBRE, which is listing the property.
CBRE is marketing the office building on behalf of the property’s owner, which according to public property records is an entity linked to San Diego K 4 LLC, which last acquired the property in 2016 for $6.75 million. Brokers for the property include CBRE’s Matt Harris, Matt Pourcho, Anthony Delorenzo and Nick Williams.
According to the listing, the property boasts abnormally high ceilings and modern rustic finishes, and could potentially serve an owner/user. Built in 1959 and renovated in 2018, this Class A office building spans 0.22 acres and features various contemporary amenities.
The offering document for the property also notes that someone acquiring the property rather than leasing would see an approximate $3.1 million in savings over a 10-year period.
Situated in downtown San Diego, the property is surrounded by numerous restaurants, retailers, entertainment venues and is within walking distance to the Gaslamp district. Moreover, the property is poised to benefit from the future Campus at Horton, which is set to offer over one million square feet of retail amenities.
Unlike some other districts in San Diego, this downtown location offers fewer restrictions on building bulk and tower separation. This flexibility is particularly advantageous for businesses with unique space requirements or those planning for future expansion as well.