July 13, 2016
San Diego-based Bosa Development acquired South Bay Corporate Center from a joint venture between Walton Street Capital and Greenlaw Partners for $42.75-million. The 189,588-square-foot 100% occupied office building is located in National City, CA. A separate parcel, occupied under a long-term ground lease with Freddy’s Frozen Custard & Steakburgers, was included in the transaction.
When Greenlaw Partners and Walton Street Capital acquired the project in 2012, the asset was 100% vacant. A comprehensive repositioning included new common areas, new restrooms, and a complete overall of the building systems. The tenant roster now includes the County of San Diego, ITT Technical Institute, TDK, and Episcopal Community Services.
CBRE Group, Inc.’s Louay Alsadek and Hunter Rowe, along with JLL’s Tony Russell and Richard Gonor represented the sellers. The buyer was self-represented.
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