SAN DIEGO — A joint venture between RPG and Steel Peak has acquired 9606 Aero Drive, a 38,704-square-foot flex office property in San Diego. Total consideration for the acquisition was $12.1 million, which the joint venture’s institutional equity partner supported.
The undisclosed seller will continue to occupy the asset as its headquarters through 2025 as part of a leaseback agreement.
Situated on 4.2 acres, the asset includes existing office space and a vacated data center that will be converted into warehouse space with multiple grade-level loading doors, creating a Class A industrial outdoor storage facility. Additional improvements to the property will include fencing, lighting and paving.
Kurtis Blanchard and Evan McDonald of Colliers represented the buyers in the deal.