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San Diego Office Tower Sells for $95.5M

Triple Net Sells Comerica Bank Building to Legacy Partners
July 27, 2006
Legacy Partners purchased the 24-story, 338,905-square-foot office tower at 600 B St. in downtown San Diego from Triple Net Properties LLC for $95.5 million, or approximately $282 per square foot. The cap rate at the time of sale was reported at 5.76%.

Built in 1974 and renovated in 1996, the building is 98% leased. Legacy and Triple Net Properties are both based in California.

Louay Alsadek, Frank Wright, Andy La Dow and Scott Diggs of Grubb & Ellis|BRE Commercial, along with Kevin Shannon of CB Richard Ellis in Torrance, CA, represented the buyer and seller.
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