SUDBERRY PROPERTIES BREAKS GROUND FOR $60M PROFESSIONAL BUILDING

SAN DIEGO — Sudberry Properties Inc. has broken ground for the construction of a 150,000-square-foot professional building in San Diego. The six-story, build-to-suit facility is located at the intersection of Interstate 15 and Scripps Poway Parkway within Miramar Ranch North. The $60 million building is part of Sudberry’s The Watermark, a planned 32-acre office campus. The new complex will include the corporate headquarters building for MedImpact Healthcare Systems Inc., which is slated to open in April 2010. Scripps Highland M/I Development LP owns the property. Bank of America and KeyBank are providing construction financing. Hanna Gabriel Wells is serving as project architect.