Menlo Equities Associates LLC of Palo Alto has purchased the 10-building One Technology Place office complex in Rancho Bernardo for $22 million, according to the seller, Parallel Capital Partners of San Diego.
The property, with a total of 152,730 square feet, is on 11.7 acres at 10905-10949 Technology Place. The complex was built in 1985 and recently underwent a $3 million renovation by Parallel Capital, which included interior and exterior improvements.
The complex is 75 percent leased, with tenants including SDG&E and Systech Corp. Parallel Capital Partners was represented in the transaction by Eastdil Secured.