MIG Real Estate Sells 43,000-Square-Foot Office Property in San Diego's UTC Submarket
NEWPORT BEACH, CA and SAN DIEGO, CA--(Marketwired - Dec 8, 2014) - MIG Real Estate, a Newport Beach, California-based real estate investment company has sold 4110 Campus Point, an approximately 43,000-square-foot San Diego office property to iboss, Inc. Terms of the transaction were not disclosed.
"The 4110 Campus Point office building is located in the highly desirable UTC submarket and provides an excellent environment for an owner or occupant to conduct its business," said Greg Merage, chief executive officer of MIG Real Estate. "This property was acquired in early 2011 with an expected five-year holding period. The sale represents the culmination of our value-add strategy for the property."
MIG Real Estate acquired 4110 Campus Point from SAIC during the recession. It is situated in La Jolla in close proximity to Interstates 5 and 805, University Town Center, and the University of California, San Diego.
MIG Real Estate was represented by Chris Pascale and Mike Hoeck of CBRE's San Diego office. iboss, Inc. was represented by Marisa Salzman of Premier Residential and Commercial Corporation.
MIG Real Estate owns seven office properties in San Diego markets and continues to search for additional investments to acquire, given the favorable prospects for continued economic growth in the region. MIG Real Estate's total portfolio now exceeds $1 billion in acquisitions throughout its target markets.
About MIG Real Estate
MIG Real Estate owns and operates a diverse portfolio of assets in California, Hawaii, Washington, Utah, Nevada, Arizona, Colorado, Texas, North Carolina, Florida and Alberta, Canada. The company's holdings consist of more than eight million square feet of select service hotels, grocery anchored shopping centers, office, flex/industrial and multifamily properties at an aggregate cost in excess of $1 billion since April 2009. Additional information is available at www.migref.com.
