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| Summit Ridge Business Park, San Diego, CA |
SAN DIEGO, CA, July 26,
2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed
the sale of Summit Ridge Business Park,
a fully leased, institutional-quality flex/R&D business park encompassing
three buildings totaling 133,841 square feet within San Diego, California.
HFF marketed the property
on behalf of the seller. A private partnership
managed by Miami-based Jewell Capital, LLC purchased the asset free and clear
of existing debt.
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| Nick Frasco |
The three buildings
feature high-image exterior architecture, unobstructed canyon views, abundant
22-foot clear heights and an extensive window line that provide for ideal
tenant workspaces.
The project is 100 percent leased to four tenants, including Inovio Pharmaceuticals, Nexus DX, Acea Biosciences and General Atomics, and is strategically located in one of San Diego’s premier innovation-centric hubs.
The project is 100 percent leased to four tenants, including Inovio Pharmaceuticals, Nexus DX, Acea Biosciences and General Atomics, and is strategically located in one of San Diego’s premier innovation-centric hubs.
The HFF investment sales
team representing the seller was led by senior director Nick Frasco.
"Summit Ridge
Business Park represented a unique opportunity to acquire a high-quality,
well-located asset at an attractive basis that offers both a durable income
component and significant upside potential through near term rollover at
below-market rents,” Frasco said.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza,
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | hfflp.com
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