Joint venture sells defense contractor campus

Wireless network builder holds lease through 2017

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Westcore Properties affiliate WS Roscoe LLC, in partnership with Somera Capital, sold REMEC Corporate Campus, a four-building, 132,685-square-foot office and R&D center, in San Diego, Calif. The value of the transaction was $26.5 million. The buyer was CBRE Operating Partnership L.P., a wholly owned subsidiary of CB Richard Ellis Realty Trust. REMEC Corporate Campus is situated on 10.5 acres in the Kearny Mesa area at 9404 Chesapeake Dr. and 5775, 5785 and 5788 Roscoe Court. The campus was 100 percent leased at the time of sale by REMEC Defense and Space Inc., a designer and manufacturer of wireless communications networks in the defense and commercial sectors. The four buildings function as corporate office, administrative office and R&D facilities with high-end electronic manufacturing occurring in three of the buildings. Nick Psyllos of the San Diego office of CB Richard Ellis represented both parties in the transaction. REMEC Defense and Space has a lease that cont...