Downtown San Diego's Executive Complex Fetches $54.4M
San Diego-based HV Cos, a private real estate investment firm, has acquired the Executive Complex office campus at 1010 Second Ave in Downtown SD for $54.4M. The campus consists of an eight-story West Tower and 25-story East Tower, with a total of 334k SF of office space. Executive Complex was 81% leased when the transaction closed. Among the tenants are the City of San Diego, the law firms of Neil Dymott and Gaston & Gaston, and the King Chavez Academy.
HV Cos recently acquired the 225k SF Spreckels Building at 625 Broadway, the prominent 1020 Prospect building in La Jolla, and the San Diego Blood Bank property portfolio in the Bankers Hill district of Downtown. The firm also owns or is in the entitlement process on two other Downtown SD office towers.
CBRE San Diego EVP Louay Alsadek and associate Hunter Rowe repped the seller, Jamison Properties. Colliers International SVP Tim Cowden repped the buyer. HFF San Diego directors Bryan Clark and Zack Holderman arranged equity and debt financing on behalf of HV Cos.