A joint venture of Harbor Associates, LLC and F&F Capital Group has acquired Highlands Corporate Center, a Class A 211,000-square-foot, five-building multi-tenant office campus in San Diego. Deal terms were not disclosed.
Located at 1270-1278 High Bluff Dr. in Del Mar Heights, 20 miles north of downtown San Diego, the approximately 90% leased campus was extensively renovated over the past several years. Leasing activity can be attributed to, among other things, its location across the street from One Paseo, the 23-acre mixed-use retail, residential and office development.
“Office performance today is bifurcated with the best locations and buildings seeing strong tenant demand and Highlands is a perfect example,” said Harbor principal Rich McEvoy. “The project’s walkable location to more than 40 restaurants at One Paseo is a game changer and one of the reasons that 150,000 square feet of leasing activity has occurred over the past three years.”
Eastdil Secured’s Adam Edwards, Justin Shepherd and Bailey Bland advised the seller.
