San Diego Business Journal

Escondido Building Housing 24 Hour Fitness Sells for $11.5 Million

By Lou Hirsh Monday, June 16, 2014
400 La Terraza Blvd. in Escondido (photo courtesy of CoStar Group)

400 La Terraza Blvd. in Escondido (photo courtesy of CoStar Group)

Birtcher Anderson Properties of Fullerton bought an Escondido retail building housing 24 Hour Fitness Super Sport for $11.5 million, according to CoStar Group and public data.

The 38,121-square-foot property at 400 La Terraza Blvd. was sold by Tycoon Management of Chula Vista.

Joseph Berkson of brokerage company Marcus & Millichap Inc. represented the buyer, recorded as Pinecrest Diamond LLC and LTBE LLC. Marcus & Millichap’s Ben Tashakorian and Sam Hanna represented the seller, recorded as Tycoon Development Corp.

The property was a build-to-suit for 24 Hour Fitness in 2000 and has more than seven years remaining on its 21-year lease, according to Marcus & Millichap.