The two assets, Kearny Mesa Crossroads and Rio Vista Building, have a blended occupancy level of 92%, according to SKB principals Robert D. Scanlan and Todd M. Gooding, adding that the properties include a mix of government, financial, medical and service tenants. Scanlan says company officials are pleased with the new acquisitions, pointing out that San Diego is "one of the strongest economic and real estate markets" in the country.

SKB has paid $19.7 million to Brookwood Kearney Mesa Investors LLC for the Kearny Mesa Crossroads asset, which is the larger of the two properties. Encompassing 126,732 sf, the complex consists of two office facilities that stand at the intersection of Highway 163 and Interstate 805.

The Rio Vista Building, which contains 108,477 sf, has been acquired from AGBRI Rio Vista I LLC, an entity of The Shidler Group. Constructed in 1984, the facility is currently occupied by 33 tenants including Alvarado Hospital and the State of California Department of Parks and Recreation. Located at 8885 Rio San Diego Dr., it is one of two buildings that comprise the Rio Vista office complex. The other Rio Vista facility, known as Rio Vista Plaza, was sold by The Shidler Group in March of 2002 for $12.9 million to Silver Creek LLC and Silver Creek II LLC, with Gary Beyler as principal. In the recent Rio Vista transaction, Adam Edwards of Secured Capital Corp. represented both SKB and AGBRI Rio Vista I LLC.