Grubb & Ellis Co. brokered the sale of Emerald Plaza, a 364,000-square-foot office building in downtown San Diego.

The transaction was valued at more than $123 million.

Emerald Tower is a class A, 30-story office tower located at 402 West Broadway.

At the time of sale, the property was 88 percent leased by approximately 50 tenants, which include HQ Global Workplaces, Foley & Lardner and San Diego Regional Chamber of Commerce. The office project connects with the Wyndham Emerald Plaza Hotel via a 10-story-high, glass-enclosed atrium. The 25-story hotel has 436 rooms, three restaurants and banking facilities.

Santa Ana, Calif.-based Triple Net Properties sold the property to RREEF, a full-service real estate investment advisor.

Grubb & Ellis Co. provides a full range of real estate services worldwide.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top