The three-building Cabrillo Technology Center industrial complex in Kearny Mesa has been sold for $59.5 million, according to CoStar Group.
According to a statement from brokerage firm CBRE, which represented the buyer and seller, the property was acquired by an affiliate of Los Angeles-based IDS Real Estate Group, in a joint venture with an institutional partner. The seller was Cabrillo Properties LLC.
The buildings at 8650, 8680 and 8690 Balboa Ave. total 285,585 square feet, and are 96 percent leased to Raytheon Technical Services Co. and HDR Engineering. The 17-acre complex was built in 1963, and renovated and expanded in 2000.
— SDBJ Staff Report