County Seals $2.8M Deal for Downtown Office Building

SAN DIEGO, CA-The County of San Diego has shelled out nearly $2.8 million for an office facility in Downtown San Diego, which it plans to hold for future office need and development. Encompassing 16,670 sf, the building was 90% occupied at the time of sale. It stands at 144-50 and 1168 Union St.

Russ Stai and Mike Conerty of Burnham Real Estate Services ONCOR International acted on behalf of the County of San Diego. The seller, 1168 Union Street LLC, was represented by Peter Corrente of Prudential Realty.

As Downtown San Diego continues to bask in its current “renaissance,” office tenants, retailers and multifamily developers alike are flocking to the neighborhood. The new development here, which has been spurred by the construction of the Padres Ballpark and the adjacent 26-block redevelopment area known as the Ballpark District, has turned Downtown into a hotspot for a varied range of tenants. Recent migrants here include everyone from the County of San Diego to Fleming’s Prime Steakhouse & Wine Bar, which plans to open a Downtown restaurant in spring of 2003.