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Old Grove Trades Hands for $8M

SAN DIEGO-A partnership between The Shidler Group and The Praedium Group sells the 77,000-sf office building to an LP less than one year after buying it.

By Erin Cassin | Updated on August 29, 2003

SAN DIEGO-Less than a year after acquiring the Old Grove Corporate Center in San Diego, a partnership between The Shidler Group and The Praedium Group has sold the office asset to a limited partnership for $8 million.

The seller, known as Shidler West Investment Partners LP, originally picked up the property back in January from Ormco Corp. At the time, the partnership paid $5.6 million cash for the asset and Matt Root, a partner of The Shidler Group, said the Scripps Ranch area where it’s located “has always been one of the most attractive suburban office locations in San Diego.”

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