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Hibiscus Pays $16.9M for Torrey Hills Asset

SAN DIEGO, CA-Hibiscus Investments Inc. acquires the Torrey View Corporate Center from a joint venture involving San Diego Realty Advisors LLC and Southland Property Group. Encompassing 71,788 sf, the class A office facility stands on a 4,24-acre parcel within the Torrey Hills master-planned development. It is currently 86% leased.

By Erin Cassin | Updated on April 20, 2003

SAN DIEGO, CA-Locally based Hibiscus Investments Inc. has added the two-year-old Torrey View Corporate Center office asset to its portfolio, having recently shelled out $16.9 million for the class A facility.

Located at 10590 W. Ocean Air Dr., the building stands on a 4.24-acre parcel within the Torrey Hills master-planned development, which is situated in the Del Mar Heights area of San Diego. Constructed in 2001 for approximately $5.5 million, the three-story facility boasts a state-of-the-art energy management system with computerized security, HVAC and lighting; an integrated fiber optic cable and telephone systems network; shower and locker facilities; nine-ft high ceilings; extensive landscaping; and outdoor patio areas. In addition, the parking ratio consists of four spaces per 1,000 sf and the floorplates can accommodate a range of tenant requirements. Seller Torrey View Associates LP, a joint venture involving San Diego Realty Advisors LLC and Southland Property Group, developed Torrey View Corporate Center, which was designed by Brian Paul & Associates and built by general contractor Nielson Dillingham Builders Inc.

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