San Diego Business Journal

School District Buys Mission Valley Office Plaza for $5.6 Million

By Lou Hirsh Thursday, June 12, 2014
River Bank Plaza in Mission Valley (photo courtesy of Colliers International)

River Bank Plaza in Mission Valley (photo courtesy of Colliers International)

The San Diego Unified School District has bought River Bank Plaza, a two-building office property in Mission Valley, for about $5.6 million.

The school district plans to lease the property, at 3420 and 3430 Camino Del Rio North, to a nonprofit charter school, according to brokerage company Colliers International.

Colliers’ Derek Hulse, Derek Applbaum and Tom Mercer represented the seller, NCWP-River Bank LLC. The three-story, Class B office property is near Interstate 8 and totals 40,222 square feet.

At the time of the transaction, River Bank Plaza was the only freeway-visible, vacant office project for sale in Mission Valley, Hulse said.