SAN DIEGO—Rockwood Real Estate Advisors, a full service real estate investment banking firm, has sold Chesapeake Park Plaza to Peregrine Realty Partners, a west coast based commercial real estate firm that was founded in 2009.
The multi-tenant, Class 'A' office building located in the Kearny Mesa submarket of San Diego was 80% leased to companies such as Molina Healthcare and Brown and Caldwell at the time of sale.
“There was strong interest from all types of investors despite the asset's mid-market characteristics. Such demand is telling of the limited supply of quality investments and the high supply of equity needing to be placed,” said Sean Fulp, Managing Director and Head of Western U.S. Investment Sales for Rockwood Real Estate Advisors.
“We competed hard for this property and in the end landed on top. We are very pleased to now have this property part of our portfolio, and look to continue our growth with future successful transactions like Chesapeake Park Plaza,” said Ryan Smith, Principal at Peregrine Realty Partners.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
