USC-Leased Office Building in San Diego Sells for $12.5M

SAN DIEGO — A high-net-worth individual has acquired a 40,000-square-foot office building that is fully leased to the University of Southern California (USC) for $12.5 million. The building is located at 9860 Mesa Rim Road.

USC’s Alzheimer’s Therapeutic Research Institute, which is a part of the Keck School of Medicine, occupies the property. It was built in 2000.

The 1031 exchange buyer plans to keep the property as a long-term investment. CBRE’s Matt Pourcho, Gary Stache, Anthony DeLorenzo and Mark Shaffer represented the seller, Washington Capital Management, in this transaction.