Los Angeles-based Kilroy Realty Corp. (NYSE: KRC) continues to add to its San Diego real estate portfolio with the $32.94 million acquisition of the 166,403-square-foot former Titan Corp. building on 7.99 acres at 10770 Wateridge Circle in the Sorrento Mesa area.
The property (assessor's parcels 341-351-21-24) was sold by Metropolitan Life Insurance Co., a New York corporation.
The tenants in what CoStar listed as a fully leased building included Optical Micro Machines, Pacific Capital Bank, the San Diego Supplier Development Council and the Wateridge Café.
Kilroy now owns more than 5.5 million square feet in 64 office complexes in San Diego County -- far surpassing the total the real estate investment trust has in any other market.
The REIT also is masterplanning a 1.7-million-square-foot development known both as "Main Street" and "Paseo" that would be built on a 23-acre site at the corner of Del Mar Heights Road and El Camino Real in the Carmel Valley.
It calls for 500,000 square feet of office, 270,000 square feet of retail, a 130- to 150-room hotel, 608 multifamily units and enough parking for 4,000 vehicles.