California

SAN DIEGO — Voit Real Estate Services has arranged the sale of Southport Office Park, an eight-building office complex located in San Diego’s National City submarket. Dan Floit, a San Diego-based private investor, acquired the asset from San Diego-based H.G. Fenton Co. for $8.7 million. Totaling 33,894 square feet, the office park is located at 102, 132 and 202 Miles of Cars Way; 2403, 2435, 2425 and 2427 Hoover Ave.; and 2405 Transportation Ave. Michael Mossmer and Curt Perry of Voit Real Estate Services represented the seller, while Mark Caston and Spencer Kerrigan, also of Voit, represented the buyer in the deal.

SAN FRANCISCO — Newcastle Partners and Drake Real Estate Partners have completed the sale of 900 Kearny Street, an office building located in San Francisco’s Jackson Square submarket. Brick and Timber Collective LLC acquired the property for $27 million. Built in 1989, the six-story building features 30,000 square feet of creative office space. At the time of sale, the property was fully occupied by EastWest Bank, Bitmami and Novani, among others. The sellers originally purchased the asset in 2017 for $17 million and renovated the property by adding open office spaces and single-floor suites. Ben Bullock, David Dokko and Thomas Foley of HFF represented the sellers in the transaction.

ORANGE, CALIF. — Los Angeles-based Stanton Road Capital (SRC) has acquired TriCentre, a Class A office tower located in Orange, for an undisclosed price. The name of the seller was not released. Completed in 1986, the 10-story TriCentre features 211,916 square feet of office space. The property is situated within the “Platinum Triangle” at the convergence of Interstate 5, California State Route 57 and California State Route 55. At the time of sale, the building was 78 percent leased to a variety of high-profile tenants, including Farmers Insurance, Children’s Home Society of California, MegaMex Foods and Lockheed Martin. The buyer has plans to invest significant post-acquisition capital to improve the tenant experience, including a fully overhauled lobby and courtyard, as well as building upgrades. SRC has retained Cushman & Wakefield to handle leasing and property management of TriCentre.