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12/27/12
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A joint venture of Lincoln Property Company and Artemis Real Estate Partners has purchased Cornerstone Heights Corporate Center. The 97.9k sf property sold for $14.1 mil, which works out to $144/sf.
The two-building, office property is located at 5959 and 6059 Cornerstone Court West, east of I-805 and south of Mira Mesa Blvd. The twin buildings were completely renovated in 2007, including new elevator, lobbies and common areas, restrooms and HVAC equipment.
The seller was represented by Rick Reeder and Brad Tecca of Cassidy Turley San Diego. Lincoln Property Company represented itself.
“This is our second acquisition in the past month. The acquisition of Cornerstone Heights Corporate Center furthers our goal of assembling a diversified portfolio of high-quality buildings in San Diego,” stated Brig Black, Senior Vice President - Southern California of Lincoln Property Company.
Lincoln also acquired 600 B Street in downtown San Diego earlier in December. The company owns and manages more than 11 msf of office, industrial and retail property throughout Southern California.
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