July 11, 2019 Comments (0) Views: 259 California News, San Diego

Parallel Picks Up Kearny Mesa’s Sky Park Office Plaza for $51M

San Diego-based Parallel Capital Partners acquired Sky Park Office Plaza, a two-building Class A office complex in the Kearny Mesa submarket from Blackstone/EQ Office for $50.6 million. Spanning 203,258 square feet on 5.8 acres at 9275 and 9325 Sky Park Court, the 96%-leased property was built in 1986 and is comprised of a three- and four-story glass and concrete office complex, as well as an onsite café and full-service gym.

Parallel’s Matt Root says, “The property is ideally located with close access to I-15, I-8, I-805 and I-5 in San Diego’s strongest infill suburban submarket. Fueled by strong tenant demand, Kearny Mesa is the best performing submarket in the region, with consistently low vacancy rates. Sky Park is also situated within the Kearny Mesa Community Plan Update boundary, which will stimulate future growth by allowing for higher residential density while promoting a vibrant live-work-play environment.”

HFF’s Nick Psyllos and Michael Leggett represented the seller. The buyer was self-represented.

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