Peregrine Buys $34M Asset, Sees Upside Potential

SAN DIEGO-GlobeSt.com learns that Peregrine Realty Partners, a real estate investment and advisory firm headquartered in Newport Beach, CA, has paid $34 million for Valley Corporate Center. Valley Corporate Center is the sixth acquisition by Peregrine Realty Partners in Southern California this year, including Old Town Plaza, a 60,000-square-foot office building in San Diego, and three industrial parks in Carlsbad.

The 178,000-square-foot multi-tenant office building located at the intersection of Interstates 8 and 163 is in San Diego’s Mission Valley submarket. The 12-story tower has excellent freeway frontage and is commonly known as the TD Ameritrade building due to the brokerage company’s prominent building-top signage, according to Peregrine.