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Office Asset Trades for $33M

SAN DIEGO-Glenborough Realty Trust Inc. snaps up the 19-story, class A building--an asset that fits in with the firm's new commitment to upgrade the "quality and geographic concentration" of its office properties.

By Erin Cassin | Updated on December 22, 2003

SAN DIEGO-As part of Glenborough Realty Trust Inc.’s new commitment to upgrade the “quality and geographic location of its office properties,” the firm has snapped up the 19-story, class A office building located at 610 W. Ash St. Downtown.

“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.”

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