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2/25/15
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In recent financing news out of San Diego, HFF arranged $30 mil for 101 Ash, a 347.1k sf office tower with subterranean parking in the city’s downtown. The borrower is The Gas & Electric Headquarters Building – San Diego LP, an entity controlled by Shapery Enterprises.
101 Ash Street is located in the heart of downtown San Diego in the Broadway Corridor. The property is adjacent to the Civic Center and is currently within walking distance to the bay front, Little Italy and the Gaslamp District. It is approximately three blocks from the on and off ramps for I-5.
The asset offers views of the San Diego Bay, downtown, Coronado Island, Balboa Park and the Pacific Ocean. Currently one hundred percent leased to Sempra Energy, the 21-story building will be repositioned at the expiration of Sempra’s lease mid-year.
Tim Wright and Zack Holderman of HFF arranged the transaction. Shapery Enterprises is, or has been, involved in the ownership, design and development of high-rise office buildings, high-rise hotels, commercial centers and raw land.
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