LEED Gold Office Building at Liberty Station Purchased by Publicly-Traded REIT
Class A Office in Prime San Diego, CA Location
SAN DIEGO, Nov. 24, 2010 /PRNewswire/ -- The Corky McMillin Companies is pleased to announce the sale of LEED Gold Building 902 at Liberty Station. (www.libertystation.com) The 105,061-square-foot, three-story, Class A office building was sold to a publicly-traded Real Estate Investment Trust (REIT). The new building, which is 95% leased, received 17 offers and more than 20 tours. The building's leasing success and exceptional buyer interest is due to its mixed-use surroundings, abundant parking, environmentally-responsible design, and prime location.
Building 902 is part of the amenity-rich Liberty Station adjacent to downtown San Diego, the San Diego International Airport, and SPAWAR. Within the 361-acre Liberty Station are numerous regional amenities, including: 125 acres of parks and open space, a 28-acre arts and cultural district, nine-hole Sail Ho golf course, multiple retail communities, dozens of cafes and restaurants, and two waterfront hotels. Liberty Station was developed by the City of San Diego Redevelopment Agency and The Corky McMillin Companies.
Building 902 features open floor plates, a showcase two-story lobby, and two third-floor balconies with panoramic bay and downtown views. LEED features include water-efficient fixtures, roof slope and finishes to reduce heat island effect, and locally sourced materials, among others. The timeless architecture was designed to complement the surrounding historical buildings.
Completed in 2009, Building 902 is 95% leased with three tenants, including: BAE systems, KAB Labs, and Transportation Security Administration (TSA). The sale includes the land, building, and parking rights. Liberty Station's total office space is 97% leased.
The seller's lead broker was Jeff Cole, Executive Director for Cushman & Wakefield's Capital Markets Group, Southern CA. Assisting Cushman & Wakefield brokers included Ed Hernandez and Steve Rowland. Supporting brokers included Don Mitchell at Cresa, and Scott Kincaid and Jill Morton at CBRE.
Joe Haeussler, Senior Vice President of McMillin Commercial, says, "We are very pleased with the results on the sale of building 902. We had an abundance of offers, which demonstrates the tremendous interest in a high quality location, strong tenant base and the local community feel as well."
Jeff Cole, Executive Director for Cushman & Wakefield, states, "The buyer recognized the value of Liberty Station being a true mixed-use development, offering quality new office space in an amenity-rich environment."
Contact: Beth Binger |
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BCI |
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Mobile: (619) 987-6658 |
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Email: [email protected] |
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SOURCE Liberty Station
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