Tryperion Holdings, in partnership with a joint venture between Crescent Coast Partners and Stos Partners, announced the acquisition of Terraces, a 206,000-square-foot class A office building in San Diego’s Kearny Mesa submarket.
The six-story property was acquired for $30 million in an all-cash transaction Dec. 19.
Located at 5887 Copley Drive, the 14.7-acre property is at the southeast corner of Interstate 805 and State Route 52, offering approximately 800 linear feet of freeway frontage along each corridor and prominent visibility above the interchange. Completed in 2009, the LEED-certified building features average floor plates of approximately 34,288 square feet, among the largest and most efficient in central San Diego.
The new ownership group plans to implement a targeted capital improvement program, beginning with enhancements to common areas and upgrades to the vacant suites. The building features secure, covered parking via a multi-story parking stru
