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5/24/21
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Mission Courtyard, an 87k sf, multi-tenant office property in San Diego, was purchased for $23.3 mil ($268/sf) by a limited partnership controlled by the principals of Peregrine Realty Partners. The four-story, atrium-style office building, located at 5030 Camino De La Siesta, was sold by AEW Capital Management, L.P.
Mission Courtyard features common areas, freeway visibility from I-8 and Hwy 163, and a parking ratio of five spaces per every 1,000 square feet. AEW recently renovated the lobby and restrooms and casual seating and meeting spaces in the courtyard. Additionally, Mission Courtyard was awarded an ENERGY STAR Label in 2017 and 2018 for its operating efficiency.
Mission Courtyard is centrally located within San Diego’s Mission Valley submarket, offering direct access to Interstate 8 and Highway 163. The property is a 10-minute walk to the San Diego Trolley and Fashion Valley Transit Center and is in proximity to various retail destinations, restaurants, downtown San Diego and the San Diego International Airport.
Louay Alsadek, Hunter Rowe and Maddie Mawby of CBRE were involved in brokering the deal. Doug Ceresia, Matt Midura and Josh Buchholz of DMJ Partners were the local market experts in the transaction and will continue to lease the property on behalf of Peregrine Realty Partners.
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