Grubb & Ellis Senior Vice-President Jon Busse represented the buyers, Mr. & Mrs. Velimir Petakovich. Trenton Bonner and Chris Rink of BRE Commercial Real Estate represented the seller, Anton Dimitroff, as successor trustee of the Rik and Flor Henrikson Trust.

In March, the Petakovichs sold Camelot Mesa, a 64-unit apartment complex located at 10208 Maya Linda Road for $6.46 million and reinvested the proceeds from that sale into the single-tenant medical building.

Both sales of existing office buildings and ground-up development have remained hot this year as investors and tenants have explored the area as a low-cost alternative to the Sorrento Mesa, Del Mar and other coastal markets. A partnership late last year bought a 2.55-acre site at the southwest corner of Highway 52 and Santo Road in the Tierrasanta area with plans to develop a new 52,000-sf office building.

Local brokers tell GlobeSt.com that developers are increasingly looking at centrally located infill properties to meet the sharp appetite for new office space in the county. The Kearny Mesa area will get its first Class A office space in the more than a decade if plans come to fruition for office development on a 40-acre parcel in the San Diego Spectrum project.

Sunroad Enterprises hopes to develop a 1-million-sf, mixed-use project on the site, which previously was a General Dynamics Corp. missile plant. Sunroad plans 900,000 sf of Class A, campus-style office space. The project also calls for about 100,000 sf of retail space.

Instant Insights /

Sharp Rees-Stealy Office Building Sells

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