The Deal of the Week was the $22 million sale of the 10-building, 152,730-square-foot One Technology Place office complex at 10905-10949 Technology Place in Rancho Bernardo.
The buyer was Technology Place Office Partners, a unit of Palo Alto-based Menlo Equities Associates.
The seller was AGP One Tech LP, a joint venture of San Diego-based Parallel Capital Partners. Matt Root, chief executive officer of Parallel Capital Partners, said One Technology Place was part of what is called the Creative Collection ó a portfolio of 26 office, R&D, and lab buildings in Sorrento Valley and Rancho Bernardo.
Built in 1985, the Rancho Bernardo complex recently underwent a $3 million renovation, transforming from industrial to office space.
The property is 75 percent leased; anchor tenants are San Diego Gas & Electric and Systech Corp. The new ownership said the property was 65-percent leased earlier in the year, added that letters of intent that would leave all but about 8,000 square feet occupied.