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SAN DIEGO — Falcon Real Estate Investment Co. has acquired University Pacific Centre, a four-story, 96,581-square-foot office building located at 8899 University Center Ln. in San Diego’s University Towne Center. The company purchased the property for $42 million, on behalf of GEM University Pacific LLC, an overseas private investor in a 1031 exchange. At the time of acquisition, the property was 87 percent leased to tenants, including Pharmaceutical Research Associates, EpiCept Corp. and the Merrill Corp. Adam Edwards, Daniel Broderick and Rick Stumm of Eastdil Secured represented the seller, San Francisco-based Alecta Real Estate USA LLC, in the transaction; Falcon represented the buyer.