SAN DIEGO—HFF has closed the sale of Copley Business Center, a 102,000-square-foot office campus in San Diego.
HFF represented both the seller, a private tenant-in-common entity sponsored by Thompson National Properties (“TNP”), and the buyer, Highbrook Investment Management, LP (“HighBrook”). HighBrook purchased the property in an off-market transaction for $22.5 million, which included the assumption of an existing CMBS loan.
Copley Business Center is a high-image corporate headquarters/office campus consisting of three buildings that were completed in 1997. The property is centrally located in the northwest portion of Kearny Mesa. The property was 87 percent leased at the time of acquisition and serves as the corporate headquarters of Reva Medical, Inc. Other major tenants include XO Communications, which uses the property to house one of its highly-improved data center colocation facilities.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
