Bixby Land Company Sells San Diego Office Building
October 15 2018 - 12:45PM
Business Wire
Bixby Land Company, a Newport Beach-based investor, has recently
sold The Oberlin, a 62,424 square foot creative office building
located at 5889, 5893 and 5897 Oberlin Drive in San Diego, CA.
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The Oberlin in San Diego (Photo: Business
Wire)
The building was sold to CPF Oberlin Associates, LLC, a
subsidiary of Crown Realty & Development, Inc., for a purchase
price of $20.4 million.
Bixby Land Company purchased the building in September 2014 and
completed an extensive redesign of the project to create a
contemporary work environment to support today’s innovative
companies. The redesign included outdoor gathering and work spaces,
a fitness area and updated interior and exterior finishes.
At the time of the sale to CPF Oberlin Associates, LLC, the
project was 66% leased to Verimatrix, Bravo Sports and Digital
Addix.
Bob Prendergast and Lynn LaChappelle of Jones Lang LaSalle
represented both the buyer, Crown Realty and Bixby Land
Company.
About Bixby Land Company
Bixby Land Company is a leading commercial real estate operator
and investment manager with a portfolio of industrial, office and
R&D properties of approximately $1 billion. The company invests
in core industrial properties and develops office and R&D
properties, all in select Western U.S. markets. For 120 years,
Bixby Land Company has been committed to adding value for its
investors and shareholders. To learn more, visit
www.bixbyland.com.
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Bixby Land CompanyDebbie Heinze,
949-336-7028dheinze@bixbyland.com