Genesis Plaza in Kearny Mesa Sold for $10M

The Muller Company of Laguna Hills, CA, sold the four-story, 57,685-square-foot Genesis Plaza office to Escondido-based NetREIT. The Kearny Mesa office is located at 4995 Murphy Canyon Road, and sold for $10 million, or approximately $173 per square foot. The cap rate for the sale was 9.25%.