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Shidler Group Sells Office Plaza for $12.9M

SAN DIEGO-Rio Vista Plaza, one of two buildings in Mission Valley's Rio Vista office complex, has been sold for almost $13 million.

By Randyl J. Drummer | Updated on March 07, 2002

SAN DIEGO-The Shidler Group has sold Rio Vista Plaza, one of two buildings in Mission Valley¹s Rio Vista office complex, for $12.9 million. The building, which was built in 1984, is almost fully occupied with 15 tenants.

The 78,167-sf building at 8989 Rio San Diego Drive was purchased by Silver Creek LLC and Silver Creek II LLC, with Gary Beyler as principal. The Shidler Group had sold the 1.7-acre parcel on Rio San Diego Drive to Beyler Feece Development, a company controlled by Beyler, for $1.2 million in February 2001.

The Shidler Group is keeping the adjacent 108,080-sf Rio Vista Building at 8885 Rio San Diego Drive. Through its entity AGBRI Rio Vista I LLC, the Shidler Group acquired both buildings and a 1.7-acre parcel in July 2000 for $21.6 million.

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