Tryperion Holdings, in partnership with a joint venture between Crescent Coast Partners and Stos Partners, acquired Terraces, a 206,000-square-foot Class A office building in San Diego’s Kearny Mesa submarket. The six-story, 206,000-square-foot property was acquired for $30 million in an all-cash transaction.
Located at 5887 Copley Dr. and completed in 2009, the LEED-certified building features average floor plates of approximately 34,288 square feet, among the largest and most efficient in central San Diego. The new ownership group plans a targeted capital improvement program.
“Terraces is an irreplaceable San Diego office asset with strong in-place cash flow, tremendous highway visibility, and long-term upside in a premier infill location,” said Jeff Karsh, founder and managing partner of Tryperion Holdings.
Rick Reeder and Brad Tecca of Newmark represented the seller. Crescent Coast Partners and Stos Partners were self-represented. Leasing efforts will continue to be led by Brett Ward, Michael Cassolato and Mike Novkov of Cushman & Wakefield.
The post Tryperion Partnership Acquires Class A Kearny Mesa Offices appeared first on Connect CRE.