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Cypress, HighBrook Divest Mission Valley Asset to CIF Group for $20M
35 North, a newly-renovated, multi-tenant office campus in San Diego’s Mission Valley, has sold to CIF Group, a private Los Angeles-based family office, for $19.75 million. Encompassing 94,701 square feet, the property consists of three low-rise office buildings located at 3530, 3550 and 3570 Camino Del Rio North, as well as an amenities building.
The seller was a partnership between San Diego-based Cypress Office Properties and New York-based HighBrook Investors, which was represented by Cushman & Wakefield’s Rick Reeder and Brad Tecca.
In 2017, the seller completed extensive capital improvements to the 1981-era campus. The property sits on 4.27 acres and features newly revitalized building exteriors, interior lobbies and common areas.
Tecca says, “35 North was more than 85% leased to a highly-diversified collection of nearly 30 companies with no tenant occupying more than 15.5% of the property, providing strong in-place income and fixed annual rate increases for a consistent rise in cash flow.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


