January 1, 2017
New York-based Gramercy Property Trust sold a 132,695-square-foot flex/office corporate campus in Kearny Mesa, CA to an unnamed private family trust. The sales price was undisclosed.
Cobham Advanced Electronic Solutions leases the entire four single and multi-story property. The tenant recently inked a new long-term lease that calls for capital improvements throughout the entire 9.57-acre campus.
Cushman & Wakefield’s Jeffrey Cole, Jeff Chiate, Ed Hernandez and Bryce Aberg represented the seller in the transaction.
Cole says, “This is a tremendous single-tenant investment property, situated in one of the region’s most desirable markets and fully leased to one of the oldest and most well respected companies in its industry, providing stable and secure long-term cash flow.”
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