Buyer secured for San Diego office space

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.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.