50% Share in 65,000-SF Sells for $6.3 Mil

SAN DIEGO-The Shidler Group has sold its 50% interest in the Palomar Heights Corporate Center to its development partner, Buie Communities, for $6.3 million.

Shidler and Buie jointly developed and built the center, which was completed in early 2000. The center 5857 Owens Ave. is a three-story building with a total of 64,641 sf of office space.

Ninteman Construction built the center and Burger Construction completed the tenant improvements. Major tenants in the Palomar Heights Corporate Center include Genesys Telecommunications, a wholly owned subsidiary of Alcatel, and Kinzan, Inc., a Web site development company. Both parties in the sale represented themselves.