KBS acquired Paseo Del Mar in January 2007 at a price of $120 million, or $516 per sf. Lynne LaChappelle and Robert Prendergrast of Jones Lang LaSalle represented KBS in the transaction, which closed Thursday for $636.45 per sf.
"It's the most substantial submarket asset really in San Diego," LaChappelle tells GlobeSt.com, noting that the property was 71% pre-leased during construction.
Major tenants in the class A buildings include: Sheppard Mullin, JMI, Pillsbury Winthrop, Jones Day and UBS. The buildings are located at 12255, 12265 and 12275 El Camino Real in Del Mar Heights.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
