T-C Copley LLC, an affiliate of New York-based pension fund TIAA-CREF, has purchased the Copley Corporate Center office property in Kearny Mesa for $43.5 million, according to CoStar Group and public data.
The seller of the 120,489-square-foot building, at 5855 Copley Drive, was an affiliate of Boston-based Colony Realty Partners. The seller was represented by Louay Alsadek, Robert Merkin, Brad Black, Hunter Rowe and Kevin Shannon, of brokerage company CBRE Group Inc.
The property was built on 5.3 acres in 2001 and was fully leased at the time of sale, with tenants including UC San Diego, Rady Children’s Hospital and KP OnCall, a subsidiary of Kaiser Permanente.
In its own statement, which did not disclose the transaction price, CBRE Group said Copley Corporate Center includes a four-story, 585-space parking garage.