"Our goal is to own a portfolio of high-quality, low-risk, multi-tenant office properties in select core markets," says Andrew Batinovich, president and CEO of Glenborough Realty Trust, explaining that the 610 W. Ash St. facility "fits these parameters." He says the building's "CBD location in a 24/7 urban environment has a number of advantages, which should keep occupancy and rents higher than average over the long term."

Located two miles from the San Diego International Airport and four blocks from the harbor, the property stands on the north side of the city's Central Business District and in close proximity to areas including the Financial District, the San Diego Convention Center, Balboa Park, Seaport Village and the Little Italy District. The asset encompasses 174,000 sf and includes an adjacent, nine-level parking structure with spaces for 409 cars. It features water views, a terrazzo-tiled lobby and entranceway, a seventh floor terrace along the west side of the building and an onsite cafe.

The 610 W. Ash St. facility housed the headquarters of commercial insurance firm John Burnham Insurance Services for more than a decade and was previously called the John Burnham Building. In 2000, John Burnham relocated to Downtown's Symphony Towers facility.