CAPL Building LLC has snatched up the property, which is located at 3990 Ruffin Rd. The buyer plans to occupy the majority of the 45,634-sf building, having already decided to lease out the approximately 10,000 sf that will remain once the LLC moves in. The property currently stands vacant.
CAPL Building LLC was represented by Patrick Rohan of Burnham Real Estate Services ONCOR International. Rob Merkin and Larry Jackel of CB Richard Ellis acted on behalf of Kilroy Realty Co.
The San Diego County office market is currently on the rebound, as the region's office market experienced 680,110 sf of net absorption in this year's second quarter, according to research by Burnham Real Estate Services. In addition, Burnham's figures point out that the amount of office sublease space available in San Diego County decreased from 1.9 million sf at year-end 2001, to 1.7 million sf as of June 30, 2002.
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