The approximately 280,000-square-foot, three-building Cabrillo Technology Centre industrial park in Kearny Mesa at 8650-8690 Balboa Ave., San Diego 92123, has been sold for $59.5 million, cash.
The buyer was Cabrillo Office LLC, c/o Elkins Kalt Weintraub Ruben Gartside LLP, 2049 Century Park East, Suite 2700, Los Angeles 90067.
The seller of the property (assessor's parcel 369-140-22) was Cabrillo Properties LLC, with MEPT Edgemoor REIT LLC as manager. David B. Keto is manager of MEPT.
The technology center was a two-phase project completed in 1999 that first involved the renovation of an existing 196,000-square-foot building constructed in 1962 down to a 142,727-square-foot, single-story corporate headquarters. Following that was the construction of a pair of new two-story office/research and development buildings of 45,022 and 92,150 square feet.
Trammell Crow Co. was the developer, KMA Architecture & Engineering handled design, and the former Roel Construction Co. was the contractor.