Torrance-based Showprop Pico Rivera LLC has acquired a 25,380-square-foot office building in Escondido for $6.9 million, according to the seller, San Diego-based SENTRE Inc.
A statement from SENTRE said the building was constructed in 2003 at 800 W. Valley Parkway and acquired by SENTRE in 2014. SENTRE repositioned the property with comprehensive improvements and a lease-up that took occupancy from 55 percent to 100 percent.
The buyer was represented by Peter Curry of brokerage firm Cushman & Wakefield. The seller was represented by Cushman & Wakefield’s Mark Avilla, Matty Sundberg and Bob Cowan.
SENTRE was founded in 1989 and invests in office, multifamily, retail, industrial and research-and-development properties. It has acquired and developed projects in Southern California and Mexico totaling more than 10 million square feet with a value of more than $3 billion.