TRAMMELL CROW TAKES 49,347-SQUARE-FOOT OFFICE BUILDING

SAN DIEGO — Trammell Crow Company’s (TCC) private equity group has acquired a 49,347-square-foot office building, which is located within the Torrey Pines submarket of San Diego. Constructed in 2001 and located off Genesee Avenue, the two-story property features 24,674-square-foot floorplates, 9-foot ceilings with acoustical system and ample parking. TCC’s private equity group, along with the firm’s Southern California Business Unit, plan to renovate and update the asset and reposition it as either Class A office space or lab/biotech space for single or multi-tenant uses. Jerry Keeney and Matt Nickels Jr. of CB Richard Ellis’ (CBRE) San Diego office will market and lease the property, while Dick Shope and Jennifer McClendon, also of CBRE, are managing the property.