Bixby Land Sells Kearny Mesa Asset for $30M
Newport Beach, CA-based Bixby Land Co. sold AERO, a 4-story office building in San Diego for $30.1 million. The buyer was AVID Center, a San Diego-based college readiness company that plans to occupy roughly half of the 92,463-square-foot building.
Bixby Land Co.’s Bill Halford said, “This project presented the opportunity to take an innovative approach in developing a building unlike anything else in the Kearny Mesa submarket.”
A $5-million re-positioning transformed the project with polished concrete floors, exposed ceilings and open floor plans to meet the contemporary work environment needs of today’s progressive companies. Roughly 20,000 square feet was added, and custom overhead doors now open up to an energetic outdoor gathering area. AERO includes a fitness center with showers, bicycle storage, a lobby lounge area, and garage parking.
Hughes Marino’s John Jarvis represented the buyer. Cushman & Wakefield’s Derek Hulse represented the seller.
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