Mission Valley Office Complex Acquired for $115.9 MillionWednesday, November 9, 2011
Los Angeles-based CommonWealth Partners LLC and Five Star Parking have purchased the two-building Pacific Center office complex in Mission Valley for $115.9 million, through a court receivership process.
The seller was Pacific Center Pt LLC, a court appointed receiver, on behalf of prior owner GE Investment Corp. The transaction closed Oct. 24, according to data reported Nov. 4 by CoStar Group.
The complex includes a six-level parking structure. The office buildings are at 1615 Murray Canyon Road and 1455 Frazee Road.
The Class A buildings, each with more than 216,000 square feet, were built in 1986 and 1988, according to CoStar. Tenants include Accenture and Lincoln National Corp.
— Lou Hirsh