Jamison Properties, Inc., a Los Angeles-based real estate and management company, has made its first foray into the San Diego market with the $50.9 million purchase of Executive Complex, a 324,000-square-foot office building in Downtown San Diego.
Grubb & Ellis Co. in San Diego announced on Feb. 8 that Jupiter Realty Corp., based in Chicago, sold the 1010 Second Ave. complex.
Executive Complex is a 25-story high-rise office building with views of the harbor, Coronado, Lindbergh Field and Balboa Park. Built in 1963, it once stood as the tallest building in Downtown San Diego, but now ranks among the top five, according to Grubb & Ellis.
Kevin Shannon of Grubb & Ellis’ Los Angeles South Bay office and Louay Alsadek of Grubb & Ellis/BRE Commercial San Diego handled the transaction.
Grubb & Ellis/BRE brokers Frank Wright, Andy La Dow and Scott Diggs handle the leasing for the complex, which is now 95 percent leased.
, Pat Broderick