San Diego County ended 2016 with its office vacancy rate at 10 percent, according to the latest data from CoStar Group, as rents continued to rise amid limited construction and rising demand.
These were the Top 5 local office purchase and lease transactions that closed during 2016:
Office Property Purchases:
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Intuit Campus, Carmel Valley — $262.3 million (Buyer: Intuit Inc.; Seller: Kilroy Realty Corp.)
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Torrey Pines Court, La Jolla — $134.2 million (Buyer: Regents of University of California; Seller: The Muller Co.)
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Procopio Tower, Downtown — $122.2 million (Buyer: LaSalle Investment Management; Seller: Hines Securities Inc.)
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Emerald Plaza, Downtown — $91.7 million (Buyer: PCCP LLC; Seller: Deutsche Asset & Wealth Management)
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Fifth & Laurel, Bankers Hill — $71.5 million (Buyer: Manchester Financial Group; Seller: Westbrook Partners)
Office Leasings (Tenant Square Footage):
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Becton, Dickinson & Co. – 318,000 square feet, Pacific Corporate Center, Sorrento Mesa (Landlord broker: CBRE)
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City of San Diego – 315,000 square feet, 101 Ash St., Downtown (Tenant broker: Hughes Marino; Landlord broker: Direct Deal)
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Dexcom Inc. – 132,600 square feet, 6350 Sequence Drive, Sorrento Mesa (Tenant and landlord broker: Cushman & Wakefield)
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Becton, Dickinson & Co. – 93,000 square feet, 6055 Lusk Blvd., Sorrento Mesa (Landlord broker: CBRE)
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Scripps Health – 89,488 square feet, 8925-45 Rehco Road, Mira Mesa (Landlord broker: Cushman & Wakefield)
