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Abbey Co. Acquires Rreef Assets for $70M

SAN DIEGO-The 447,311-sf office portfolio spans 29 acres in the central San Diego area, including six multi-tenant business parks and office flex properties totaling 18 buildings.

By Bob Howard | Updated on January 23, 2007

(To read more on the industrial market, click here.)

SAN DIEGO-The Abbey Co. of Long Beach has acquired a 447,311-sf office and flex portfolio of metro area properties from Rreef for approximately $70 million, according to CB Richard Ellis. The portfolio spans 29 acres in the central San Diego area, including six multi-tenant business parks and office flex properties totaling 18 buildings.

The properties in the institutional grade portfolio, which is 92% leased, are occupied by 65 tenants in spaces ranging from 500 sf to 99,381 sf. The transaction was brokered by a CBRE team including vice chairman Darla Longo, EVP Barbara Emmons and SVP Nick Psyllos.

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