Real Estate 2 purchased a two-acre parcel in the project fronting Clairemont Mesa Boulevard for $2 million. The firm plans to 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 deal valued at nearly $7 million. The building will house the offices of county Assessor, Recorder and County Clerk Gregory J. Smith. Construction on the building will begin in February with completion slated for September 2003.
Reflecting the Kearny Mesa submarket as a whole, the 200-acre master-planned office and R&D development has seen strong leasing since the redevelopment of the property began more than two years ago.
Burnham Real Estate Services' Mike Conerty and Russ Stai represented the buyer. Brad Black and Rob Merkin of CB Richard Ellis represented the seller, LNR Kearny Mesa Inc. Conerty and Stai also represented the buyer and the San Diego County in the lease of the build-to-suit facility.
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