San Diego Business Journal

Carmel Valley Office Building Sells for $18M

Friday, February 22, 2013

The Carmel Valley office property known as Foley Corporate Center, at 11943 El Camino Real, has been sold for $18 million.

Carmel Valley Office Building LLC was the buyer, and the seller was Diamante Office Building LLC, according to a statement from brokerage firm Cushman & Wakefield, which represented the seller.

The buyer was represented by Colliers International. The 34,600-square-foot property was built in 2005 and was fully leased at the time of the transaction, with current tenants including Comerica Inc., Global Media Outreach and Fidelity Investments.

The building is located in the Del Mar Heights submarket of Carmel Valley, near Interstate 5 and state Route 56.

A Colliers statement listed the primary buyer as Realliance LLC. Colliers Senior Vice President Richard Lebert said the location allows medical use, “which is extremely hard to find in this zip code.”

— SDBJ Staff Report