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8/07/15
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John Hancock has purchased four office campuses totaling nine buildings and 933.1k sf of space in San Diego for $258 mil ($276/sf). John Hancock is the U.S. division of Manulife Financial Corp. The assets were sold by LA-based Kilroy Realty Corporation.
The office portfolio consists of: Sequence Technology Center, 6260, 6290, 6310, 6340 and 6350 Sequence Drive; Scripps Wateridge, 10770 Wateridge Circle; Sorrento Gateway, 4921 Directors Place; and Governor Pointe, 6200 and 6220 Greenwich Drive. The properties and include two- and three-story office buildings located in central San Diego’s Sorrento Mesa and Governor Park office submarkets, in the hearts of San Diego’s technological centers.
The portfolio was 83 percent leased at the close of the sale. Two of the nine buildings were vacant as of July, and the remaining seven buildings were leased to tenants in technology-based industries.
Nick Psyllos, Ryan Gallagher, Michael Leggett and Nick Frasco of HFF represented Kilroy in the sale.
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