Kilroy sells San Diego campus for $262m
Mountain View, Calif.–based Intuit has purchased the office complex Santa Fe Summit Phase II in San Diego from Kilroy Realty Corp. for $262.3 million.
According to the filing, the campus is leased 100 percent to Intuit. The property totals 465,812 square feet.
Kilroy Realty Corp., which developed the asset, acquired the development site in 2005 for $24 million.
Property transactions in the San Diego office market have increased significantly during 2015, according to Real Capital Analytics. Thus far this quarter, 26 offices have been sold, totaling $1.06 billion in sales price. The fourth quarter is on pace to exceed the total sales volume recorded during the third quarter, which had more than $1.1 billion in sales.
The second quarter 2015 office property sales totaled $903 million and the first quart