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Irvine Company Expands San Diego Footprint, Again
Irvine Company acquired Paseo Del Mar, a 235,000-square-foot Class A office project in Del Mar Heights, CA from Union Investment. The sales price was not disclosed.
Irvine Company Office Properties’ Doug Holte says, “Paseo Del Mar provides us with another exceptional workplace community for our San Diego customers, with close access to best-of-class residential, recreational, retail and on-site amenities.”
Completed in 2006, Paseo Del Mar’s three, three-story buildings are located at 12255, 12265 and 12275 El Camino Real.
The transaction is the company’s fourth significant San Diego office property purchase in the past 12 months, boosting its San Diego office portfolio by nearly one million square feet. The acquisitions included La Jolla Reserve in La Jolla UTC, Gateway at Torrey Hills and Township 14 in Del Mar Heights.
Eastdil Secured’s Adam Edwards, Brian Russell and K.C. Scheipe handled negotiations on behalf of the sellers. The seller was also advised by Metzler Real Estate.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


