 |
| Copley Business Center, San Diego, CA |
IRVINE, CA – HFF announced it has closed the sale of Copley
Business Center, a 102,000-square-foot office campus in San Diego,
California.
HFF represented both the seller, a private tenant-in-common
entity sponsored by Thompson National Properties (“TNP”), and the buyer,
Highbrook Investment Management, LP (“HighBrook”).
 |
| Nick Psyllos |
HighBrook purchased the property in an off-market transaction for
$22.5 million, which included the assumption of an existing CMBS loan.
Copley Business Center is a high-image corporate
headquarters/office campus consisting of three buildings that were completed in
1997.
HFF’s investment sales team representing the parties was led
by associate director CJ Osbrink and senior managing director Nick
Psyllos.
.JPG) |
| CJ Osbrink |
The property is centrally located in the northwest portion
of Kearny Mesa and provides convenient regional access via Interstates 5, 15
and 805 and Highways 162 and 52.
The property was 87 percent leased at the time of
acquisition and serves as the corporate headquarters of Reva Medical, Inc.
Other major tenants include XO Communications, which uses
the property to house one of its highly-improved data center colocation
facilities. During its due diligence
period, HighBrook successfully secured a 12-year lease renewal with XO
Communications, which further enhanced the stability of the property.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
No comments:
Post a Comment