SAN DIEGO—HighBrook Investment Management LP, in an off-market transaction, purchased the Copley Business Center for $22.5 million. The 102,000-sq.-ft. office complex in San Diego was owned by a private tenant-in-common entity sponsored by Thompson National Properties.
The three-building Copley Business Center opened in 1997 in the northwest part of Kearny Mesa. The campus is 87 percent leaved to tenants such as Reva Medical Inc. and XO Communications. During the sale procedures, HighBrook managed to secure a 12-year lease renewal with XO Communications.
The $22.5 million sale price includes the assumption of a CMBS loan.
Holliday Fenoglio Fowler’s associate director CJ Osbrink and senior managing director Nick Psyllos represented both buyer and seller.