5620-5660 Friars Rd 55,196 SF Office Building San Diego, CA 92110 $20,960,237 CAD ($379.74 CAD/SF) 7.75% Cap Rate

Single-Tenant Headquarter Leaseback — Institutional Credit
— 10-Year Net Lease — Zero Landlord Obligations: Upon close of escrow, RICK (Rick Engineering Company) will execute a 10-year NNN leaseback of its Mission Valley corporate headquarters. The absolute net structure delivers a fully passive income stream from day one.

— Corporate Headquarters — Purpose-Built Operations Hub: The subject property at 5620 Friars Road serves as RICK’s headquarters and primary operations hub for one of the western United States’ most prominent engineering and design firms.

— 70-Year San Diego Institution: Founded in 1955, and with a rich history in community development, RICK has operated continuously for more than 70 years, building deep-rooted relationships across public agencies, transportation authorities, and the military. The firm has completed 20,000+ projects across the western United States and received multiple APWA, ASCE, and ACEC awards in 2025 and 2026.

Mission Valley — The Geographic Center of San Diego
— Geographic Core of San Diego County: Mission Valley sits at the geographic center of San Diego, positioned at the confluence of I-8, I-15, and SR-163 — three of the region’s highest-volume freeway corridors. RICK’s workforce of 400+ employees draws from every major residential community in the county, from North County to Chula Vista.

— Immediate I-8 Freeway Access: The property fronts Friars Road with immediate on/off access to I-8, which carries more than 200,000 vehicles per day through the valley. San Diego International Airport (SAN) is approximately 4 miles west, making 5620 Friars Road one of the most logistically efficient corporate addresses in San Diego County.

Strong San Diego Market Fundamentals
— 0% Office Vacancy Rate/ Highest Demand: Free-standing single tenant office standing buildings within Mission Valley between 20,000 SF to 100,000 SF are rarely available for lease evident by the low 0% vacancy rate (source: Costar). Any tenant within this size range would have to commingle with other tenants inside a multi-tenant office building.

— Defense-Anchored, Diversified Economy: San Diego is home to the largest concentration of military installations in the world and a top-5 U.S. biotech and life sciences cluster, generating consistent, recession-resistant demand for the engineering, planning, and infrastructure services RICK provides. The metro GDP exceeds $250 billion.