Polidev Investments Inc. of San Francisco has purchased Genesee Plaza, a two-building medical office complex in San Diego’s University Towne Center neighborhood, for approximately $72 million, according to CoStar Group and public data.
The sellers of the buildings, totaling 161,184 square feet at 9333 and 9339 Genesee Ave., were Stockbridge Capital Group LLC and DivcoWest, both of San Francisco.
The buyer was represented by Aldon Cole and Jordan Angel, of real estate services company HFF. The sellers were represented by HFF’s Nicholas Psyllos, Nick Frasco, Kara Mathis, Ryan Gallagher and Michael Leggett.
The buildings were constructed on 3.6 acres in 1983 and were renovated in 2012. The 9333 building was 95.5 percent leased at the time of sale, with the 9339 building 89.7 percent leased, CoStar reported.
Genesee Plaza includes two four-story buildings and a two-level, 577-space subterranean parking garage, according to HFF.