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Columbia Center in downtown SD sold

The Deal of the Week was the sale of the 27-story, 553,715-square-foot Columbia Center office tower, at 401 W. A St. in downtown San Diego, 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 of New York City. The sole member of the buyer is Broadway Lexington Holding LLC (known as Holding), and the sole member of Holding is Broadway Lexington Associates LLC.

The seller was 401 West A Street SD PT LLC.

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 at 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.

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