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Kearny Real Estate Sells Trophy Office Building to Bosa Development | Tony Seruga
Mar
10

Kearny Real Estate Sells Trophy Office Building to Bosa Development

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Bosa Development acquired the Five Thirty B office building in downtown San Diego for $53.2 million from Kearny Real Estate Co.

Five Thirty B Office Building, San DiegoFive Thirty B Office Building, San Diego

San DiegoKearny Real Estate Co. has recently sold the 232,936-square-foot Five Thirty B office building located at 530 B St. in San Diego to Bosa Development for $53.2 million. Louay Alsadek, Andrew Taylor and Hunter Rowe of CBRE’s local office represented both parties in the transaction. The deal is recorded as one of the largest real estate transactions in downtown San Diego in the last 12 months.

The 24-story high-rise was bought in January 2014 by Kearny for $29 million from Union Bank of California, a subsidiary of Bank of Tokyo. Following the sale, the business plan was to reposition the former Union Bank headquarters to appeal to both Baby Boomer and Generation X office tenants as well as to the recent influx of millennial influenced businesses. After the acquisition, Kearny rebranded the building as Five Thirty B and embarked on a $15 million renovation project that included a redesigned lobby and refurbished conference center with new state of the art audio and visual equipment…

Kearny Real Estate Sells Trophy Office Building to Bosa Development

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