Irvine Co. has acquired Gateway at Torrey Hills, continuing its expansion into Del Mar Heights. Gateway at Torrey Hills, a two-building, 198K SF office campus, sold for $105M.
“Our decision to acquire Gateway at Torrey Hills is another sign of our long-term faith in San Diego as a nationally-recognized center of innovation,” Irvine Co. Office Properties President Doug Holte said in a statement. “Irvine Company’s focus on delivering vibrant workplace communities aligns well with Del Mar Heights’ remarkable combination of attractive housing, recreation, retail, transportation, as well as access to workforce talent and leading businesses.”
Visible from the Interstate 5 Freeway at Carmel Mountain Road, the multi-tenant campus has stone-and-glass facades, flexible floor plates, modern interior features and on-site parking. Tenants include BDO USA, MINDBODY Inc., and law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo P.C.
In September, the company purchased nearby Township 14. Rick Reeder and Brad Tecca of Cushman & Wakefield’s Capital Markets group based in San Diego handled negotiations on behalf of the seller, an institutional real estate investor. Leasing specialists Brian Starck and Joe Anderson of the same office performed market advisory services.
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