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Archon Group LP Acquires Plaza Del Mar III

SAN DIEGO-The affiliate of Goldman, Sachs & Co. purchases the 114,000-sf office facility from Janez Properties. Currently 100% leased, the building is occupied by tenants such as Sheppard, Mullin, Richter & Hampton LLP and Prudential California Realty.

By Erin Cassin | Updated on February 06, 2003

SAN DIEGO-An affiliate of Goldman, Sachs & Co. has purchased San Diego’s Plaza del Mar III office building in a deal of the same magnitude as Glenborough Realty Trust’s $75-million acquisition of the Aventine in 2002.

The Goldman Sachs affiliate, Archon Group LP of Irving, TX, has acquired the 114,000-sf office facility from Janez Properties, a diversified real estate firm that was acting on behalf of private investors. Although terms of the deal were not released, industry sources say it was comparable to two of last year’s major office transactions: the Aventine purchase and the $166.3-million sale of One America Plaza to General Electric Pension Trust.

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