August 14, 2017
San Diego-based Premier Realty Holdings, Inc. acquired Wateridge Pavilion from Fenway Properties for $16.3 million. Located at 10525 Vista Sorrento Pkwy. in the Sorrento Mesa submarket of San Diego, the three-story, 62,427-square-foot office building was 97% leased at the time of sale.
Premier Realty Holdings, Inc., a private investment firm led by Marc Barmazel, plans to occupy space at Wateridge Pavilion.
CBRE Louay Alsadek and Hunter Rowe, along with Cushman & Wakefield’s Brett Ward, Michael Cassolato and Michael Mahoney, handled the transaction on behalf of the seller and buyer.
“Wateridge Pavilion generated significant interest from a wide variety of buyers due to its location, historically high occupancy and the quality of Fenway’s recent capital improvements,” Alsadek said.
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