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110 Plaza Sells for $80 Million

Forester Properties Acquires 326,000-SF Downtown High-Rise
September 6, 2011
Forester Properties, Inc. has acquired the 325,977-square-foot, class-A office tower at 110 W. A St. in downtown San Diego, CA for $80 million, or about $245 per square-foot.

The 110 Plaza is an 18-story, high-rise office building situated on 1.4 acres and was originally constructed in 1971. The building features recently upgraded common areas with high-quality finishes, on-site property management, 24-hour security and an on-site cafe.

The property was approximately 90 percent occupied at the time of sale. Cushman & Wakefield will handle the leasing efforts for the new owner.

Adam Edwards and Jay Boyle of Eastdil Secured negotiated the transaction on behalf of the seller, Cornerstone Real Estate Advisors. The buyer was self-represented.

For more information, see CoStar COMPS #2157578.
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