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Shidler Continues Buying Spree in San Diego Market

SAN DIEGO-The huge construction materials company sells two Mission Valley office buildings to the Shidler Group, which has now spent more than $150 million in the area since the beginning of 2000.

By Randyl J. Drummer | Updated on October 12, 2000

SAN DIEGO-CalMat has sold two office buildings in Mission Valley totaling more than 175,000 sf to the acquisition-hungry Shidler Group in a deal valued at $22 million.

The Orange County office of Cushman Realty Corp. handled the sale of Rio Vista Plaza, a 78,162-sf building at 8989 Rio San Diego Dr., and the adjacent Rio Vista Building, which is 97,500 sf. CalMat, a wholly-owned subsidiary of Vulcan Materials Co. and a leading producer of construction aggregates, asphalt and concrete, is getting out of the real estate business.

“CalMat is concentrating on the aggregate and concrete business, not real estate development,” says Peter Andrich, the senior director for Cushman who handled the transaction.

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