San Diego business park sale completed

Grubb & Ellis/BRE Commercial brokered the sale of the Miramar Commerce Center, a five building, 112,483-square-foot business park in San Diego.

The value of the transaction was $17 million.

The Miramar Commerce Center, completed in 1987 and 1997, is located at 8902-8940 Activity Road and is situated on two parcels totaling 10.1 acres. The buildings are of concrete tilt-up construction and are all single-story.

At the time of sale, the project was 92.2 percent leased to approximately 28 tenants in space ranging from 907 square feet to 19,940 square feet.

TA Associates sold the property to LBA Realty.

San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage.

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