SAN DIEGO – Washington Capital Management has purchased, on behalf of a client, Spectrum Corporate Plaza, a 129,146-square-foot office campus in central San Diego, for US$39.8 million.
Built in 2008, the Class A property at 9242 and 9246 Lightwave Ave. was 95% leased at the time of sale. Major tenants include Henkels & McCoy, Epsilon Systems, the State of California and the San Diego Workforce Partnership.
The pair of low-rise, freestanding buildings sits on a 6.41-acre lot with 514 parking spaces. The plaza has easy access to Interstate 806 and State Route 52, as well as nearby restaurants and amenities on Clairemont Mesa Boulevard.
“Spectrum Corporate Plaza has been one of the best-performing Class A assets in Kearny Mesa, maintaining over 90% occupancy since it was built in 2008, which made it a great prospect for the clients of Washington Capital Management in an off-market deal,” Alsadek indicated in a statement.
Source: CPexecutive