The facility stands on two parcels totaling three acres, which are located at the northeast corner of Interstate 8 and Highway 163 at 5030 Camino De La Siesta in the Mission Valley area of the city. Encompassing 84,566 sf, the building was constructed in 1980. Its common areas were remodeled in 2002. Tenants at the facility, which is currently 94% leased, include service-related companies like Hazelrigg Risk Management, Physical Rehabilitation, Ty Lin McDaniel and South Coast Title Co.
Both the buyer, MC Mission Courtyard, and the seller, F&F Mission Courtyard Associates LLC, were represented by Steve Rowland and Richard Gonor of BRE Commercial/NAI.
San Diego County's office market has begun to show signs of improvement over the past several months and is expected to build up strength over the next year, partially due to the growth in employment that is projected for the region. According to Stath Karras, president and CEO of Burnham Real Estate Services, San Diego County is projected to add 126,148 new jobs over the next four years, which translates to an annual average of 31,537 jobs.
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