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60.3 F
San Diego
Wednesday, May 22, 2024
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Kearny Mesa Office Building Sold

A six-story Kearny Mesa office building has been sold but few details on the sale have been disclosed.

Built in 2009, the 205,725 square-foot Terraces at 5887 Copley Drive was acquired by undisclosed buyer for an undisclosed price.

The seller was Sudberry Properties, according to CoStar, a real estate research firm.

The building is fully leased to two tenants –Guild Mortgage Company and Cox Media.

Representing Sudberry Properties were Rick Reeder and Brad Tecca of Cushman & Wakefield’s Capital Markets in San Diego.

They were assisted by Brett Ward and Michael Cassolato, also of Cushman & Wakefield.

“San Diego generally, and Kearny Mesa specifically, is experiencing robust investor demand for quality office opportunities, similar to Terraces,” said Tecca, an executive director with Cushman & Wakefield. “The Terraces offering was well received by a wide range of investors given its credit rent roll, no near-term vacancy exposure and the quality of the real estate.”

Amenities at the Terraces include a café and dining area, a gym, a combination yoga room and dance studio, an outdoor putting green and sports court and a coffee house.

Real estate reporter Ray Huard may be reached at rhuard@sdbj.com or 858-277-8904.

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