Arden Realty Buys 4 San Diego Complexes
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Arden Realty Inc. announced the purchase of four San Diego County office complexes for a total of $69 million.
The Los Angeles-based real estate investment trust said the four properties total 370,000 square feet of space and include Crossroads in Mission Valley, Carmel Valley Center I & II in Del Mar Heights, Carmel View Office Center in Rancho Bernardo and Governor Executive Center in Governor Park. The properties were purchased from Chicago-based Equity Office Properties Trust.
The acquisitions will boost the size of Arden’s total portfolio to about 19.4 million square feet. Shares of Arden closed down 2 cents at $24.75 on the NYSE.
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