Real estate firm Gildred Development Company purchased the five-building Rancho Santa Fe Professional Center for $ 19.5 million.
The Huntington Hotel Company, located in Irving, Texas, sold the center to the downtown San Diego company. The price is $ 1,045 per square foot.
Located at 6002-6 El Tordo, 5951 La Sendita and 17008 Avenida De Acacias, the site includes four office / medical buildings and one commercial building.
The 18,663 square foot property was built in phases from 1975 to 1990. Two of the buildings have been fully leased since the initial construction of the project, while the other two buildings have an average occupancy of 99%.
The center parking lot, partially underground, also had the highest parking ratio in downtown Rancho Santa Fe.
The property, said senior vice president Matt Pourcho of CBRE, who represented the seller, “offered a once-in-a-generation investment opportunity to acquire prime assets in prestigious Rancho Santa Fe. This asset is the best. among Rancho Santa Fe’s limited inventory of business assets. The submarket has high barriers to entry and a low vacancy rate.
Anthony DeLorenzo, Gary Stache and Bryan Johnson joined Pourcho to close the deal. Joe Bernstein and Joe Anderson of JLL represented the buyer.