The 27-story, 553,715-square-foot Columbia Center office tower at 401 W. A St., San Diego 92101, has been sold for $135 million.
The price includes payment of $37 million and assumption of a September 2005 loan, with an original and current value of $98 million.
The buyer was Broadway Lexington LLC, in care of Emmes Master Services LLC, 420 Lexington Ave., Suite 900, New York, N.Y. 10170. The sole member of the buyer is Broadway Lexington Holding LLC, and the sole member of the sole member is Broadway Lexington Associates LLC, with Andrew Davidoff as the authorized signatory.
Emmes is a company engaged in turning around troubled commercial properties. A survey by The CoStar Group (Nasdaq: CSGP) in August showed the office tower was a 30 percent vacancy.
Major tenants include the law firm of Higgs, Fletcher & Mack, the city of San Diego Retirement System and the federal General Services Administration.
The seller of the property (assessor's parcel 533-403-10) was 401 West A Street SD PT LLC, with Robert W. Jones as authorized signatory. The building was built and opened in 1982 by developer Douglas Manchester, owner of the U-T San Diego newspaper.