CEG Capital Partners has acquired Pacific Gateway Plaza in Kearny Mesa for $9 million.The 26,939 square-foot project at 3707 and 3709 Convoy St. at the intersection of Convoy Street and Aero Drive was sold by Pacific Gateway, LLC.
The plaza is a mix of office and retail space.
The property is currently about 50% leased, and CEG plans to reposition the property and stabilize it for a long-term hold.
“It is a privilege to acquire this high-quality property that serves as the southern gateway to the Convoy District,” said Pat Geary, managing partner of CEG Capital Partners. “We are excited to breathe new energy into an important asset to Kearny Mesa, and welcome the opportunity to continue the leadership that the original developer Susan Lew has demonstrated in the area for decades.”