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130,000-SF Corporate HQ to Get Facelift

SAN DIEGO-TriGate Property Partners II L.P. and Cypress Office Properties acquire Olympia Plaza and plan major interior and exterior renovations in this week's wrap-up of deals.

By Carrie Rossenfeld | Updated on January 24, 2013

(Save the dates: RealShare Apartments East comes to the Hyatt Regency in Miami, FL, on February 26, and RealShare Los Angeles comes to the Hyatt Regency Century Plaza in Los Angeles, CA, on March 27.)

SAN DIEGO-TriGate Property Partners II L.P., in partnership with locally based Cypress Office Properties, has acquired Olympia Plaza, a 130,000-square-foot office and corporate headquarters project in the Kearny Mesa submarket here for an unnamed price. The new owners plan to maximize their investment by completing major interior and exterior renovations at the three-building office complex. Plans for the Plaza, located at 3870-3890 Murphy Canyon Rd., include upgrading exterior/interior common areas and refurbishing much of the currently vacant space to improve the appeal for prospective tenants. Cypress has hired Jones Lang LaSalle‘s EVPs Richard Gonor and Tony Russell to lease up the building.

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