|Lightwave Corporate Center, a 166.9k sf data center and office property in San Diego, was sold by LBA Realty. It is located at 9305 Lightwave Ave, south of Clairemont Mesa Blvd and roughly midway between Hwy 163 and I-15 in San Diego’s Kearny Mesa area, northeast of downtown and close to Montgomery Field.
The property was remodeled in 2007 and is fully leased to tenants including American Internet Services, which occupies data center space on the entire ground floor of the building, and San Diego Gas & Electric Company, which occupies the entire second floor.
LBA was represented by Nick Psyllos and Ryan Gallagher of HFF, along with Kevin Shannon, Scott Schumacher, Ken White, Brad Black and Rob Merkin of CBRE. LBA Realty is a full-service real estate investment and management company with a diverse portfolio of office and industrial properties in major markets throughout the western United States including California, Colorado, Washington, Oregon, Arizona, Nevada, Texas and Utah.
“This asset benefited from improving fundamentals in San Diego and traded at a significant discount to replacement cost, given the extraordinarily high cost of data center construction,” said Nick Psyllos, a senior managing director for HFF.