April 4, 2019
San Diego-based Fenway Capital Advisors and Waterfall Asset Management acquired Four Points Business Park in Kearny Mesa, CA from Brookwood Financial Partners, LLC for $28.2 million. Located at 5575, 5625 and 5675 Ruffin Rd., the 124,463-square-foot office campus was 92% leased.
The property consists of three free-standing buildings, with floor plates designed to accommodate a range of tenant layouts and 590 on-site parking spaces. Brookwood acquired the property in 2013 and completed various capital improvements. Four Points Business Park’s tenant roster is comprised of roughly 75% office users, and the balance are medical tenants.
Fenway Capital Advisors’ Larry Jackel says, “Four Points Business Park was an excellent fit for our acquisition criteria, and complements our San Diego office portfolio. We plan to complete significant capital improvements, and elevate the asset in the Kearny Mesa marketplace.”
CBRE’s Louay Alsadek and Hunter Rowe represented the seller. The buyers were self-represented.
For comments, questions or concerns, please contact Dennis Kaiser