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SAN DIEGO-GMAC Commercial Mortgage Corp. has leased the final 5,000 sf in the Plaza Del Mar III office building, located at 12544 High Bluff Drive, in a five-year deal valued at $860,000.

Janez Properties is developer and property manager of the 118,000-sf project. Dick Balestri of CB Richard Ellis represented GMAC in the transaction. John McPhillips of Janez Properties represented the owner, New Plaza Holdings.

With loan originations of approximately $20 billion in 2001 and a servicing portfolio of more than $150 billion, Horsham, Pa.-based GMAC is the nation’s leading provider of financial services to the commercial real estate industry. The company has 11 offices in California.

Plaza Del Mar III is the third office building at the 237,000-sf Plaza Del Mar office complex, which is located in the San Diego Corporate Center. The four-story, multi-tenant, Class A building was completed in June 2001 and is now 100% leased.

Among the major tenants in Plaza Del Mar III are Watson Wyatt Worldwide, Prudential California Realty, Targus Information Systems, Bernstein Litowitz Berger & Grossmann LLP and Sheppard, Mullin, Richter & Hampton, LLP.

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