SAN DIEGO-DivcoWest, a real estate firm, and Stockbridge Capital Group, a private CRE investor, have jointly purchased Genessee Executive Plaza, a 159,425-square-foot office complex in San Diego's University Town Center submarket, for $46.8 million. Bank of America provided a loan of $28 million for the acquisition.
The commercial- and medical-office property, constructed in 1984, features two three-story buildings. It underwent a $1.2-million renovation in June 2009. The office complex is currently 69% leased. For the full story, go to Commercial Property Executive .
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