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Arden Buys Four-Property Office Portfolio for $69M

SAN DIEGO, CA-Arden Realty Inc. purchases four office properties encompassing a total of 370,000 sf from Equity Office Properties Trust. The recent additions bring Arden's portfolio to around 19.4 million sf, including more than 2.8 million sf in San Diego County.

By Erin Cassin | Updated on September 04, 2002

SAN DIEGO, CA-Arden Realty Inc. has added 370,000 sf of office space to its portfolio, having recently acquired four properties in San Diego for a total of $69 million. The four new assets, which have been purchased from Equity Office Properties, bring Arden’s portfolio to around 19.4 million sf, including more than 2.8 million sf in San Diego County.

Two of the newly acquired assets, Crossroads and Carmel Valley Center I & II, are located in submarkets where Arden had not previously owned properties. Crossroads stands in Mission Valley, while Carmel Valley Center I & II is located in Del Mar Heights. The Mission Valley property is a seven-story, multi-tenant office building that is fully leased. Encompassing 133,600 sf, the Crossroads facility is located at 404 Camino del Rio South. Carmel Valley I & II consists of two buildings that stand at 11975 and 11995 El Camino Real. Its facilities, which are 97% leased, encompass a total of 107,200 sf.

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