San Diego office complex scores buyer

Property situated in Mission Valley area

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Grubb & Ellis/BRE Commercial arranged the sale of two office buildings totaling 132,920 square feet in San Diego. The value of the transaction was $26 million. The buildings are located at 1650 & 1660 Hotel Circle North. They are situated on two separate parcels totaling approximately 4.1 acres. The seven-story office building located at 1660 Hotel Circle North consists of 104,098 square feet and was 83 percent leased at the time of sale to 24 tenants. Major tenants include Coldwell Banker Residential Brokerage Co., The Mobile Solution and Zenith Insurance Co. The adjacent two-story building located at 1650 Hotel Circle North consists of 28,822 square feet and was fully leased at the time of sale to seven tenants, including AT&T Government Solutions, Arlen Capital and Prado Mortgage Corp. 1660 Investors L.P. and 1650 Investors L.P sold the buildings to JM43 LP. San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage. *...