Kilroy Realty Corporation Sells Del Mar Tech Center In San Diego For $21 Million

The property asset involved in the transaction is the Del Mar Tech Center located at 12348 High Bluff Drive in San Diego’s Carmel Valley. The facility encompasses 39,000 square feet and is situated on 2.13 acres. The sale concluded with a transaction amount of $21,000,000, equating to a price per square foot of $542.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $21,000,000
• Address: 12348 High Bluff Drive
• Market: San Diego
• Asset Size: 39,000 SF
• Price Per Square Foot: $542
• Seller: Angela M. Aman - Kilroy Realty Corporation
• Acres: 2.13

Angela M. Aman serves as the CEO of Kilroy Realty Corporation, which executed the sale as part of a broader strategy to divest non-core office assets. This decision aligns with Kilroy's pivot towards more focused capital investments, including higher-quality suburban properties and developmental projects, amidst a fluctuating office market.