Office

MISSION VALLEY, CALIF. — Behringer Harvard Opportunity REIT I Inc. has acquired Crossroads Office Park in Mission Valley from an undisclosed seller. The seven-story office building is located two miles northeast of San Diego International Airport and five miles north of downtown San Diego. The transaction amount was undisclosed. The property is situated on a 5-acre site and provides more than 139,000 square feet of space to a diverse list of tenants. Tenants benefit from a high parking ratio of 3.8 surface spaces per 1,000 square feet of rentable office space. The building has also earned an Energy Star rating from the Environmental Protection Agency. “We acquired this well-located, value-added asset at a significant discount to replacement cost. We believe this Energy Star-rated property provides us with an attractive opportunity to create value by stabilizing its occupancy and moving rents to market levels,” said Robert Behringer, founder and CEO with Behringer Harvard. Area attractions near the property include Mission Bay Park, Sea World, Qualcomm Stadium and Fashion Valley.

TEMPE, ARIZ. — A 12-story office tower in Tempe has traded hands for $92.5 million. The 299,540-square-foot, Class A tower is located within Hayden Ferry Lakeside, a 43-acre mixed-use development of office, retail and residential space. SunCor Development Co. has sold the building to HF Lakeside II LLC, a subsidiary of Sumitomo Corporation of America. “SunCor has done a superb job attracting blue-chip companies to this mixed-use development,” said Robert Obringer, vice president of HF Lakeside II LLC. “This waterfront property and the overall vision for Hayden Ferry Lakeside are extremely impressive and the quality architecture, construction and central location are what drove us to be a buyer,” he said. The property is currently 83 percent leased to tenants such as KPMG, MetLife, and Fidelity National Title Insurance. “Hayden Ferry Lakeside is well on its way to achieving the ultimate vision created by SunCor,” said Randy Levin, vice president of commercial/urban development and design for SunCor. “Vibrant commercial and residential aspects of the development are flourishing. Clearly, the central live-work-play theme of Hayden Ferry Lakeside is striking a chord in this market,” Levin said. The sale transaction was negotiated by executive director Chris Toci and director Ted Harrison of Cushman …

LOS ANGELES — Fox Interactive Media has signed a 12-month lease for 421,000 square feet of office space at Horizon at Playa Vista in Los Angeles. The company will occupy virtually the entire first phase of the 15-acre office campus. The first phase consists of two five-story buildings surrounded by pedestrian pathways and open courtyard spaces. Designed by Johnson Fain, the property features many modern aspects including a progressive, contemporary design and state-of-the-art workplace technology. Located at the intersection of Bluff Creek Drive and Campus Center Drive, the property is seeking Gold LEED certification. Fox Interactive plans to consolidate its Los Angeles facilities, which currently house a variety of companies including My Space, Fox Sports Interactive and Rotten Tomatoes. The company plans to take occupancy by June 2009. Cushman & Wakefield arranged the lease on behalf of the owners, Lincoln Property Company and ASB Real Estate Investments; Studley Inc. represented Fox Interactive Media.