Buyer secured for San Diego office space

Building scheduled for rehabilitation

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Colliers International negotiated the sale of a 62,148-square-foot office building in the Carmel Mountain Rancho area of San Diego, Calif. The value of the transaction was $9.8 million. The property is located at 12230 World Trade Drive. Solana Beach, Calif.-based Judd King 2 sold the property to Newport Beach, Calif.-based Menlo Equities. The office building was 80 percent occupied at the time of sale. Major tenants are Pulse Technologies, a tenant for nearly 10 years, and Cypress Semiconductor Corp., scheduled to occupy the building in January 2005. The building will be rehabbed, including painting, lobby and common-area upgrades and a new entrance. Colliers International is a provider of commercial real estate services. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....