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7/31/15
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A corporate HQ property in San Diego traded hands, as The Gildred Companies purchased Campus at Copley, a three-building, 101.6k sf office campus in the city’s Kearny Mesa submarket. The price was not disclosed.
Campus at Copley is situated on nearly seven acres at 5751, 5761 and 5771 Copley Dr, between Interstate 805 and Route 52. This location offers substantial power infrastructure and excellent fiber connectivity with multiple fiber optic options for a telco facility, a building use making up approximately one-third of the rent roll. The property is 96 percent leased to four tenants including XO Communications, EdgeConneX, Reva Medical and Kleinfelder with a weighted average remaining lease term of more than six years.
HFF senior managing director Nick Psyllos and director Nick Frasco represented the seller, HighBrook Investment Management LP, in the transaction. Founded in 2010, HighBrook is a New York-based real estate private equity firm that acquires and actively manages previously underperforming income producing property investments on a national basis.
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