Premier Realty Nabs San Diego Office
ByPremier Realty Holdings Inc. acquired Wateridge Pavilion, a 62,427-square-foot office building in the Sorrento Mesa submarket of San Diego, for $16.3 million. The buyer plans to occupy space at the property. Fenway Properties sold the three-story asset, which was 97 percent leased at the time of the transaction.
Fenway Properties bought the asset from Western States Investment in December 2012 for $9.2 million, according to Yardi Matrix. Located at 10525 Vista Sorrento Parkway, the Class B property was built in 1987 and underwent a cosmetic renovation in 2013. Capital improvements included restroom and shower renovations, resurfaced exterior, hardscape, water feature upgrades and landscaping enhancements. The building is just off Interstate 805 and has easy access to Interstate 5…
