Family trusts dump San Diego office property

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Grubb & Ellis/BRE Commercial negotiated the sale of Columbia Court, a 28,233-square-foot office building in downtown San Diego. The value of the transaction was $6.3 million. The four-story structure, located at 444 West C St., was built in 1984-85 on an approximately one-quarter-acre lot. The property was fully leased at the time of sale. The sellers were Busby Family Trust and Shoemaker Family Trust. The new ownership, Pacifica Cos., is planning to convert the building to office condominiums. San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to