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Deal of the Week - Sale

Technology center on Balboa sold

The Deal of the Week sale involved the approximately 280,000-square-foot, three-building Cabrillo Technology Centre industrial park in Kearny Mesa at 8650-8690 Balboa Ave., San Diego, for $59.5 million, cash.

The buyer was Cabrillo Office LLC, c/o Elkins Kalt Weintraub Ruben Gartside LLP of Los Angeles.

The seller was Cabrillo Properties LLC, with MEPT Edgemoor REIT LLC as manager. David B. Keto is manager of MEPT.

The technology center is 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.

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