The company also sold a retail asset in New Albany, OH for approximately $4 million, giving the real estate company a year-to-date total of $92 million in assets sold year to date.
Proceeds from Developers Diversified's asset sales were used to repay debt and fund previously announced property acquisitions and ongoing development projects.
The San Diego asset sold was a 58,800 sf office building leased to Eastman Kodak and Accumetrics. The Ohio asset sold was a 30,110 sf neighborhood shopping center.
Developers Diversified Realty is a real estate investment trust that owns, manages and develops retail properties. The company currently owns and manages about 240 shopping centers totaling over 58 million sf of real estate.
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