The Shidler Group has sold an 18-story office building totaling 180,000 square feet in San Diego, Calif.

The value of the transaction was $48 million.

The Shidler Group purchased the building in September 2003 for $35 million.

The property, located at 707 Broadway, includes an adjacent 12-story, 792-stall parking structure.

Major tenants in the building include Washington Mutual Bank, the City of San Diego Attorneys’ office, Inter@activate, the law firm of Lowell & Robbin, engineering firm Parsons, Brinckerhoff, MCI WorldCom, and public relations firm Nuffer, Smith, Tucker.

The buyer was Arden Realty Inc., a self-administered and self-managed real estate investment trust.

The Shidler Group is a national real estate organization that acquires commercial real estate.


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