San Diego Business Journal

Mission Valley Office Complex Acquired for $115.9 Million

Wednesday, November 9, 2011

Los Angeles-based CommonWealth Partners LLC and Five Star Parking have purchased the two-building Pacific Center office complex in Mission Valley for $115.9 million, through a court receivership process.

The seller was Pacific Center Pt LLC, a court appointed receiver, on behalf of prior owner GE Investment Corp. The transaction closed Oct. 24, according to data reported Nov. 4 by CoStar Group.

The complex includes a six-level parking structure. The office buildings are at 1615 Murray Canyon Road and 1455 Frazee Road.

The Class A buildings, each with more than 216,000 square feet, were built in 1986 and 1988, according to CoStar. Tenants include Accenture and Lincoln National Corp.

— Lou Hirsh