DEL MAR, CA-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that the Heights at Del Mar office park has sold for $126.35 million. The acquisition represents the largest sale transaction within the Del Mar Heights submarket since 2007, according to Rick Reeder and Brad Tecca of Cassidy Turley who resented both the buyer, Kilroy Realty Corp., and the seller, Prudential Real Estate.
The Heights at Del Mar is a 218,940-square-foot, class-A campus located at 12770 to 12790 El Camino Real in Del Mar Heights. The project encompasses a class A multi-tenant office building, life science building, and an entitled 4.2-acre parcel of land that can accommodate an approximate 90,000-square-foot office or life science facility.
The Heights at Del Mar is anchored by Neurocrine Biosciencese and Knobbe Martens Olson & Bear, the nation's third largest intellectual property law firm. Both of these firms have long-term commitments in place and combined occupy 94 percent of the campus. Additional tenants are Allen Group Architects, Southwest Value Partners and Backplane.
Check back with GlobeSt.com for and upcate on this story with thoughts from Kilroy Realty Corp. on the purchase.
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