Irvine, Calif.-based CIP Real Estate, a real estate investment company, in joint venture with Guggenheim Real Estate, has purchased an 88,295-square-foot office building in San Diego, Calif. The value of the transaction was not disclosed. ASR Mira Mesa LLC, an affiliate of American Spectrum Realty Inc., sold the four-story asset, which is located at 9444 Waples Ave. Built in 1986, the class A building is situated on 3.6 acres and was approximately 95 percent leased at the time of sale by tenants that included Equity 1 Lenders Group, World Savings and Liberty Mutual. The site has ample surface parking, a recently upgraded lobby, elevators and corridors, an on-site deli, on-site shower and locker facilities, and several suites with balcony access. CIP will continue with some interior upg...
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