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SAN DIEGO-Trammell Crow Co. is marketing a suburban office portfolio of about 500,000 sf in a deal expected to fetch about $80 million. The five low-rise and mid-rise projects, which range in size from 55,000 sf to 120,000 sf, are located in Del Mar Heights, Carmel Mountain Ranch, Kearny Mesa and Mission Valley. The portfolio is 98% leased to both national and local firms.

Rick Putnam and Jeffrey Cole, two principals in Trammell Crow’s Irvine office, are handling the sale on behalf of a pension fund advised by Clarion Partners. Phil Monroe of Burnham Real Estate will assist in the marketing.

Putnam believes that, in addition to local players, there will be significant interest from private investors, national pension funds, REITs and insurance companies.

San Diego continues to outpace the state, and “the office market will continue to grow at a moderate and sustainable pace,” Cole says.

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