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Monday, Jul 22, 2024
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Commercial Real Estate Sale Brushes the $300M Mark

Los Angeles-based Maguire Properties Inc. announced April 10 that it has entered into an agreement to sell two San Diego properties for more than $298 million to an unspecified buyer.

The 439,000-square-foot Pacific Center in Mission Valley and the 269,000-square-foot Wateridge Plaza in Sorrento Mesa are being sold as part of Maguire’s disposition strategy.

Maguire is disposing of several office properties in its portfolio and using the proceeds to acquire the downtown Los Angeles and Orange County portfolio from Equity Office Properties and reduce debt.

The sale is expected to close in the second quarter.

, Andy Killion

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