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Pacific Office Properties Buys 194,000 SF for $31M

SANTA CLARITA, CA-The San Diego-based office REIT acquires the three-building complex from American Assets Trust Inc., also a San Diego-based REIT.

By Bob Howard | Updated on September 01, 2011

SANTA CLARITA, CA-Pacific Office Properties Trust Inc. of San Diego has acquired the three-building, 194,000-square-foot Valencia Corporate Center office complex from American Assets Trust Inc., also a San Diego-based REIT, for $31 million. Pacific Office will co-own Valencia Corporate Center through a joint venture with Angelo, Gordon & Co., a privately held investment manager.

Situated on a 13.8-acre campus, the Valencia Corporate Center was developed in 1999 and 2007 with amenities including an on-site gym and dining choices. The three buildings are at 28470, 28480 and 28490Stanford Ave.

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