Jones Lang LaSalle, Inc. is pleased to present to qualified investors for the first time in over 15 years the opportunity to acquire the leasehold interest in the Merrill Lynch Building (the “Property”), one of only five Class A office buildings in the Village of La Jolla.
Totaling 100,798 SF with a ground lease extending through December 2098, the Property boasts a diverse mix of both small to large and regional to national credit, highlighting the dynamic nature of the La Jolla community. Tenancy has remained constant within the Property with over 30% of the GLA in place for over 10 years, maintaining 94% average occupancy over the past 15 years.
The Merrill Lynch Building is only a quarter mile from the pristine beaches of La Jolla, adjacent to the area’s finest retail amenities and restaurants in the Village of La Jolla, and proximate to San Diego’s most affluent neighborhoods, offering tenants premier live/work office space within an infill coastal market.
- Iconic asset in premier coastal market
- World-class surrounding amenities
- Superior demographics
- Competitive to surrounding submarkets
- Highly coveted and supply constrained market
- Tenant friendly low-rise office build
- Outperforming asset