Pacific Heights Plaza sale completed
SoCal asset recently renovated
By Inman News, Tuesday, May 9, 2006.Grubb & Ellis/BRE Commercial negotiated the sale of the approximately 51,216-square-foot Pacific Heights Plaza in San Diego.
The value of the transaction was $14.5 million.
The two-story office building, located in San Diego's Sorrento Mesa submarket at 9985 Pacific Heights Blvd., was 100 percent leased at the time of sale to three tenants, which include Raytheon Corp., State Street Bank and Proceed Software.
The building was originally developed in 1989 as the corporate headquarters for the San Diego County Credit Union, which recently relocated to a larger facility in Sorrento Mesa. The property recently underwent interior and exterior renovations and improvements.
R.E. Hill Properties LLC and Quartz Mountain Properties LLC sold the property to TA Realty Associates LLC.
San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage firm operating in San Diego and Riverside counties.
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