SAN DIEGO—Swift Real Estate Partners has purchased Five Thirty B in downtown San Diego from Bosa Development. Located at 530 B Street, the 24-story, 232,936-square-foot LEED Gold office building was 88% leased at the time of sale.
Steve Blue at Swift tells GlobeSt.com that the property is an excellent location on B Street corridor in downtown San Diego and that the company is purchasing the property at significant discount to replacement cost. Blue adds that the property is one of the last B Street corridor office buildings that hasn't yet undergone a renovation and repositioning.
Louay Alsadek and Hunter Rowe of CBRE Capital Markets Office West were the investment advisors in the transaction. Matt Carlson, Ryan Grant and Jeff Oesterblad of CBRE provided market leasing expertise.
“With downtown San Diego experiencing its highest historical net absorption in 2016 and a significant decrease in vacancy combined with the continued growth of the downtown population, the Five Thirty B offering attracted significant interest from investors, which created a highly competitive environment,” Alsadek says in a prepared statement
Founded in 2010, Swift Real Estate Partners is headquartered in San Francisco with regional offices in Orange County, Portland and the Silicon Valley/East Bay. Swift is an independent and vertically integrated real estate investment management firm which seeks to generate attractive risk-adjusted returns for its fund investors. The company acquires and repositions office and industrial assets in select West Coast markets. Swift, through its various funds, has purchased approximately 5.5 million square feet of real estate and has over $1.3 billion of assets under management.
Under the leadership of Chairman Nat Bosa and President Ryan Bosa, Bosa Development has an unprecedented track record of success. With uncommon vision and well-considered planning, the company has created thousands of homes, and proven to be a leader in the industry. Bosa is synonymous with superior quality, luxurious lifestyles, and exemplary locations. Its stunning properties continue to make bold architectural statements and set new standards in locations such as Vancouver, Whistler, Calgary, Maui, San Diego, Orange County, San Francisco, and most recently, Seattle.
SAN DIEGO—Swift Real Estate Partners has purchased Five Thirty B in downtown San Diego from Bosa Development. Located at 530 B Street, the 24-story, 232,936-square-foot LEED Gold office building was 88% leased at the time of sale.
Steve Blue at Swift tells GlobeSt.com that the property is an excellent location on B Street corridor in downtown San Diego and that the company is purchasing the property at significant discount to replacement cost. Blue adds that the property is one of the last B Street corridor office buildings that hasn't yet undergone a renovation and repositioning.
Louay Alsadek and Hunter Rowe of CBRE Capital Markets Office West were the investment advisors in the transaction. Matt Carlson, Ryan Grant and Jeff Oesterblad of CBRE provided market leasing expertise.
“With downtown San Diego experiencing its highest historical net absorption in 2016 and a significant decrease in vacancy combined with the continued growth of the downtown population, the Five Thirty B offering attracted significant interest from investors, which created a highly competitive environment,” Alsadek says in a prepared statement
Founded in 2010, Swift Real Estate Partners is headquartered in San Francisco with regional offices in Orange County, Portland and the Silicon Valley/East Bay. Swift is an independent and vertically integrated real estate investment management firm which seeks to generate attractive risk-adjusted returns for its fund investors. The company acquires and repositions office and industrial assets in select West Coast markets. Swift, through its various funds, has purchased approximately 5.5 million square feet of real estate and has over $1.3 billion of assets under management.
Under the leadership of Chairman Nat Bosa and President Ryan Bosa, Bosa Development has an unprecedented track record of success. With uncommon vision and well-considered planning, the company has created thousands of homes, and proven to be a leader in the industry. Bosa is synonymous with superior quality, luxurious lifestyles, and exemplary locations. Its stunning properties continue to make bold architectural statements and set new standards in locations such as Vancouver, Whistler, Calgary, Maui, San Diego, Orange County, San Francisco, and most recently, Seattle.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
