June 1, 2016 Comments Off on UC Regents Acquires Torrey Pines Asset for $134.1M Views: 567 California News, San Diego, West

UC Regents Acquires Torrey Pines Asset for $134.1M

The UC Board of Regents acquired Torrey Pines Court, a 216,476-square-foot office campus from Irvine, CA-based The Muller Co. and San Francisco-based Rockwood Capital LLC for $134.1 million. The five-building property is located at 3333, 3344, 3366, and 3377 N. Torrey Pines Ct. and 10350 N. Torrey Pines Rd.

The 90% occupied asset is leased to 13 tenants, including UC San Diego, Auspex Pharmaceuticals, GlaxoSmithKline LLC, and the Center for Creative Leadership. UC San Diego’s main campus is located nearby.

The acquisitions are part of the UC system’s long-term strategy of investing in income-producing assets for its endowment and retirement accounts. The site provides expansion options for the university.

Eastdil Secured’s Brian Russell and Adam Edwards represented the seller. No buyer representative was listed.

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