SAN DIEGO—HFF has closed the $258 million sale of four office campuses totaling nine buildings and 933,134 square feet. HFF marketed the sale on behalf of Kilroy Realty Corporation.
The office portfolio consists of Sequence Technology Center, 6260, 6290, 6310, 6340 and 6350 Sequence Drive; Scripps Wateridge, 10770 Wateridge Circle; Sorrento Gateway, 4921 Directors Place; and Governor Pointe, 6200 and 6220 Greenwich Drive.
The properties were 83% leased as of their respective closing dates and include two- and three-story office buildings located in central San Diego's Sorrento Mesa and Governor Park office submarkets in the hearts of San Diego's technological centers. Two of the nine buildings were vacant as of July, and the remaining seven buildings were leased to tenants in technology-based industries.
The HFF investment sales team representing the seller was led by senior managing directors Nick Psyllos and Ryan Gallagher, senior managing director and co-head of both the San Francisco office and HFF's national office investment sales platform Michael Leggett anddirector Nick Frasco.
With more than 65 years' experience owning, developing, acquiring and managing real estate assets in West Coast real estate markets, Kilroy Realty Corporation, is a publicly traded real estate investment trust and member of the S&P MidCap 400 Index. At March 31, the company's stabilized portfolio totaled 13.0 million square feet of office properties, all located in the coastal regions of greater Seattle, the San Francisco Bay Area, Los Angeles, Orange County and San Diego.
Holliday Fenoglio Fowler, L.P. (HFF) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.
GlobeSt requested from HFF information on the buyer of the portfolio, but HFF declined to disclose that information at this time.
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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.
