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The Shidler Group Sells Valley Corp. Center For $24.3M

SAN DIEGO, CA-NSD Venture acquires the 12-story office property, which The Shidler Group purchased in June 1999 for $15.5 million. Encompassing 171,039 sf, the building stands on a 3.69-acre parcel in Mission Valley. Tenants here include Blue Shield of California, First Command, Progressive Inc. and Bob Baker Enterprise.

By Erin Cassin | Updated on August 20, 2002

SAN DIEGO, CA-The Shidler Group has netted $24.3 million with the sale of its Valley Corporate Center office property in Mission Valley to NSD Venture.

The building, formerly known as the Mission Valley Financial Center, dates back to 1972. In September 1993, John Mutual Life Insurance Co. acquired the facility through foreclosure and then proceeded to invest $2.7 million in upgrades to the property. The Shidler Group finally snatched up the building from John Mutual in June 1999 for $15.5 million and remained as the owner up until the recent sale.

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