Hamann Family Partnership No. 7 L.P purchased the site for $1.85million from Olympia Group LLC and plans to build a two-story,52,000-sf-spec office building on the site. With the Kearny Mesaand Governor Park office markets being extremely tight andavailable land at a shortage, Hamann plans to begin construction inmid-2001.
Dick Balestri of CB Richard Ellis' San Diego Central officerepresented the seller in the transaction. Ross Grano of HamannProperties represented the buyer.
Developers are increasingly looking at centrally located infillproperties as a place for projects to meet the sharp appetite fornew office space in the county. The Kearny Mesa area will get itsfirst Class A office space in the more than a decade if plans cometo fruition for office development on a 40-acre parcel in the SanDiego Spectrum project.
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