SAN DIEGO—Industry sources report Intuit has exercised a purchase option with Kilroy Realty to buy the campus it leases in the Rancho Bernardo submarket here for $262.3 million. The property, Santa Fe Summit, is a four-building office campus at 7525-7555 Torrey Santa Fe Rd.

The transaction is expected to close in the first quarter of 2016 at a price of more than $563 per square foot. GlobeSt.com was unable to reach the parties involved to discuss the transaction before deadline.

According to industry sources, Intuit, the producer of QuickBooks, TurboTax and Quicken, has leased the entire 465,812-square-foot campus since 2007, when the build-to-suit project was completed. The campus is located on an 11-acre site immediately off the Ted Williams Pkwy. Each of the properties features three elevators, 11-ft. slab heights and Energy Star ratings for operating efficiency.

It has been a strong year for San Diego office sales for Kilroy. As GlobeSt.com reported in August, the firm sold a four-office-campus portfolio totaling nine buildings and 933,134 square feet for $258 million, marketed by HFF. The portfolio consisted of Sequence Technology Center, 6260, 6290, 6310, 6340 and 6350 Sequence Drive; Scripps Wateridge, 10770 Wateridge Circle; Sorrento Gateway, 4921 Directors Place; and Governor Pointe, 6200 and 6220 Greenwich Drive.

However, the developer has met with community opposition this year to One Paseo in Carmel Valley, a 23.6-acre mixed-use project with LEED features that the firm purports will improve traffic and the environment, the firm's VP of development Bob Little told GlobeSt.com exclusively.