San Diego Business Journal

Sorrento Mesa Office Building Sells for $34.1M

Monday, December 3, 2012

Locally based investment firm BCL Inc. and AEW Capital Management LLC of Boston have acquired the One Pacific Heights office building in Sorrento Mesa. The price was $34.1 million, according to CoStar Group.

A statement from BCL Inc. said the five-story, 120,350-square foot building, at 9920 Pacific Heights Blvd., was built in 1989 and completely renovated in 2007. The seller in the transaction was RREEF America LLC, and the buyers and seller were represented by brokerage firm Cassidy Turley San Diego.

BCL owns and manages a portfolio of office and industrial buildings throughout Southern California and Arizona, totaling 1.2 million square feet. Its other local holdings include the Bank of America Tower, at 450 B Street in downtown San Diego.

AEW and its affiliates manage $33.5 billion of capital, invested in approximately $46.6 billion in property and securities in North America, Europe and Asia, the statement said.

— SDBJ Staff Report