5/3/2007

PE Fund pays $30.5M for San Diego Class office Bldg

by

2020 Camino Del Rio North

Realty Associates Fund VIII L.P. purchased a 106,500-square-foot office building at 2020 Camino Del Rio North in San Diego, Calif., for $30.5 million from Area 8 LLC on May 3.

Mark Silverman, Doug Ceresia and Josh Buchholz of NAI San Diego represented Area 8 in the transaction. Grubb & Ellis|BRE Commercial in San Diego represented Realty Associates Fund VIII, L.P.

Plaza 2020 was 92 percent leased at the time of sale and houses major tenants MGC Communications, Acacia Pacific Holdings and New England Life Insurance. The building sits on 3.16 acres and was originally constructed in 1970 as home to the Veterans Administration. It was rehabbed into an office tower in 2000.

Address: 2020 Camino Del Rio North, San Diego, Calif.

Size: 106,500 sq. feet

Built: 1970

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Filed Under: Office

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