Chesapeake Office Bldg 9320 Chesapeake Dr 23,650 SF 93% Leased Office Building San Diego, CA 92123 $6,939,054 CAD ($293.41 CAD/SF) 8% Cap Rate

VERY HIGH RETENTION MULTI-TENANT OFFICE WITH UPSIDE
* 9320 Chesapeake Drive is a ±23,650 SF multi-tenant office building currently 92.73% occupancy across nine tenants. The existing 9 tenants average a historical occupancy over 18 years at the subject property.
* Deep rooted anchor tenant - Esgil Corporation occupies 8,406 SF (35.54% of the building) and has been in continuous tenancy since April 1989 - over 36 consecutive years. This suite recently went through a significant remodel and Esgil invested significant capital into their space.
* Priced to an attractive year one 8.00% Cap Rate and increases to a 9.2% cap rate in Year 4. New ownership will enjoy very strong return with minimal headache, management or capital costs.
* The building has gone through an extensive remodel including new restrooms, updated lobby, lighting, flooring throughout common area, exterior paint & landscaping.
KEARNY MESA - SAN DIEGO’S CENTRAL CORPORATE ADDRESS
* Convergence of All Four Central San Diego Freeways | 9320 Chesapeake Drive is positioned within Kearny Mesa - the only submarket in central San Diego served by all four major freeways: I-15, I-805, SR-163, and SR-52. This freeway confluence delivers immediate connectivity to La Jolla, Mission Valley, and Downtown San Diego, and earns Kearny Mesa the #1 ranking for ingress/egress among all San Diego submarkets.
* Surrounded by San Diego’s Largest Corporate Employers | The building is proximate to a dense concentration of regional anchor employers including Kyocera, Raytheon, L3 Technologies, Cubic, Solar Turbines (a Caterpillar Company), and SHARP Healthcare. Kaiser Permanente’s recently completed $1 billion, 321-bed regional hospital - the largest Kaiser campus in San Diego, employing 1,000 people - is located minutes from the property.
SUPPLY-CONSTRAINED SUBMARKET WITH DEEP INVESTOR DEMAND
* Kearny Mesa Buildings Rarely Trade - 80% Owner-User Owned | Kearny Mesa has the highest percentage of owner-user occupied buildings of any San Diego submarket, with approximately 80% of its commercial base owner-occupied.? Multi-tenant investment properties are infrequent to market; 9320 Chesapeake Drive represents a rare point of entry into one of San Diego’s most demand-constrained office corridors.?