Prentiss/Collins Del Mar Heights LLC purchased the 7.35 acres of land from Pardee for a total consideration of about $10.5 million.
Prentiss/Collins Del Mar Heights LLC is a joint venture between Prentiss Properties, a national REIT, and San Diego based Southwind Construction.
Rick Reeder and Dave Odmark of BRE Commercial / NAI represented both thebuyer and the seller in the transaction.
Future plans for the property include the construction of two high-profile,class A office buildings totaling 160,000 sf.
The project, called High Bluff Ridge at Del Mar, will be three- and four-storystructures with a central courtyard. Brian Paul & Associates has been selected as the building architect.
Construction is set for completion during the second quarter of next year. Rick Reeder, Dave Odmark and Justin Halenza of BRE will handle leasing of the project.
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