San Diego high-rise sells for $95M

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Grubb & Ellis/BRE Commercial on Friday announced the sale of a 338,905-square-foot office tower located in downtown San Diego. The sale was valued at $95.5 million. The 24-story office tower, located at 600 B St., was 98 percent leased at the time of sale, with the City of San Diego occupying nearly 50 percent of the building. Comerica Bank has top-of-the-building signage and occupies the ground and second floors offering a full-service banking facility. The project was built in 1974 and underwent extensive renovations in 1996, which upgraded the lobby, elevator, exterior and interior of the building. On-site amenities include a gourmet coffee cart, food stand, flower cart, and a day-care facility. Foster City, Calif.-based Legacy Partners, a private equity real estate investment advisor, purchased the property from Santa Ana, Calif.-based Triple Net Properties, a tenant-in-common sponsor. San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real ...