Shidler and Buie jointly developed and built the center, whichwas completed in early 2000. The center 5857 Owens Ave. is athree-story building with a total of 64,641 sf of office space.
Ninteman Construction built the center and Burger Constructioncompleted the tenant improvements. Major tenants in the PalomarHeights Corporate Center include Genesys Telecommunications, awholly owned subsidiary of Alcatel, and Kinzan, Inc., a Web sitedevelopment company. Both parties in the sale representedthemselves.
"Selling our 50% interest in the center gives us the opportunityto redeploy our capital into other commercial properties," saidMatt Root, a partner with The Shidler Group. "Once our propertiesare fully improved and fully leased, we prefer to sell and begin anew development cycle in situations where we can increasevalue."
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