Oct
04
Vista Nabs San Diego Office Tower
ByThe asset is located within the Mission Valley submarket and offers 105,796 square feet of space, out of which 10,000 is designated for retail use.
Vista Investment Group added a new asset to its office portfolio: Plaza 2020, a 10-story tower located in the Mission Valley submarket of San Diego. The property marks the company’s second acquisition in the area, following the purchase of an 80-unit community in La Mesa, Calif. Vista bought Plaza 2020 using a $16.6 million fixed-rate life company loan arranged by HFF.
“Mission Valley should see strong office demand in the coming years as a surge of residential and retail development is delivered into the sub-market. Plaza 2020 fits well within Vista’s strategy of owning well-located, middle-market assets below replacement cost, with strong upside potential,” said Vista President Jonathan Barach, in prepared remarks…
