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MIG Acquires 367,002-SF Portfolio for $56M

SAN DIEGO-The Newport Beach, CA-based firm buys four value-add office projects here, increasing its portfolio to approximately 2.5 million square feet.

By Natalie Dolce | Updated on August 12, 2011

SAN DIEGO-Newport Beach, CA-based real estate investment company, MIG Real Estate, has acquired a 367,002-square-foot office portfolio here for $56 million. The portfolio includes five class B office buildings on 17.38 total acres of land.

This transaction provides a significant value-add opportunity as positive office market momentum continues in San Diego with the class B sector poised for growth, according to MIG. “San Diego is the third largest metro economy in California with job growth in a diverse mix of emerging industries,” says Greg Merage, CEO of MIG Real Estate. “We anticipate strong tenant demand and leasing activity at these properties over the next several quarters.”

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