ECP Associates, a California general partnership, has acquired the class A property that dates back to 1988. Located on a 2.4-acre parcel at 4995 Murphy Canyon Rd., the four-story building encompasses 56,429 sf. It features 15,000-sf floor plates, shower and locker facilities, four parking spaces per 1,000 sf and an outdoor dining patio. Architectural touches include a glass curtain wall, various fountains and lush landscaping. The office facility is currently occupied by tenants including Hewlett-Packard Co., Agilent Technologies, Republic Insurance and the State of California.
Mark McEwen of Colliers International brokered the transaction. He also represented Layton-Belling when the company acquired the facility back in 1998.
This deal marks the second office sale involving a Layton-Belling partnership to be reported here in the past week. LBA Overland LLC, which is a partnership between Layton-Belling & Associates and AEW Capital Management, recently sold the Overland Storage office campus to New York-based pension advisory firm WP Carey for $28 million. The building is located on an eight-acre parcel at the corner of Overland Drive and Spectrum Center Boulevard in the San Diego Spectrum Business Park.
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