Real Estate 2 purchased a two-acre parcel in the projectfronting Clairemont Mesa Boulevard for $2 million. The firm plansto build a 30,171-sf, build-to-suit office for San Diego County,which will lease the facility with an option to buy, in a dealvalued at nearly $7 million. The building will house the offices ofcounty Assessor, Recorder and County Clerk Gregory J. Smith.Construction on the building will begin in February with completionslated for September 2003.

Reflecting the Kearny Mesa submarket as a whole, the 200-acremaster-planned office and R&D development has seen strongleasing since the redevelopment of the property began more than twoyears ago.

Burnham Real Estate Services' Mike Conerty and Russ Stairepresented the buyer. Brad Black and Rob Merkin of CB RichardEllis represented the seller, LNR Kearny Mesa Inc. Conerty and Staialso represented the buyer and the San Diego County in the lease ofthe build-to-suit facility.

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