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Office Facility Sells for $6M

SAN DIEGO-A fund overseen by Layton-Belling & Associates acquires the 101,590-sf office building from Bank of America in a sale-leaseback transaction. Bank of America currently occupies 50% of the facility.

By Erin Cassin | Updated on December 01, 2003

SAN DIEGO-Bank of America has sold its 8875 Aero Dr. office facility in a sale-leaseback transaction valued at $6.3 million.

A fund presently being overseen by the Southern California-based real estate investment and management firm Layton-Belling & Associates has acquired the asset, which is currently 50% occupied by Bank of America. Completed in 1981, the two-story building encompasses a total of 101,590 sf, with half of its space serving as an operational facility for Bank of America. Its remaining 50,000 sf of office space is available for immediate occupancy, according to a company spokesperson. Jim Laing of Burnham Real Estate is handling leasing at the facility, which stands near the intersection of Aero Drive and Sandrock Road in the city.

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