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San Diego Capital Markets

Lincoln Buys Miramar Office Park

Lincoln Property Co has generated some activity in Miramar lately, and just purchased Activity Business Center, a five-building office park totaling 161k SF, from Brookfield Property Partners for $19.15M, or nearly $120/SF. The 83% leased park includes such tenants as Quest Diagnostics and H&R Block. Cushman & Wakefield's Rick Reeder, Brad Tecca and Bryce Aberg brokered the sale. This represents Lincoln's sixth San Diego buy in the past year and a half, including Research Center Plaza for $9.5M this past October, just two years after HFF sold an underperforming loan secured by this property among the nearly 1M SF in assets. [SDBJ]

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