IDS Real Estate Group Expands Portfolio; DPR Construction Awarded Top LEED Certifications
- Nov 14, 2011
IDS Real Estate Group has acquired a 411,200-square-foot industrial/warehouse building in the Kearny Mesa area, RenTV.com reports. The 19-acre property located at 4000 Ruffin Rd is a Class B, multi-tenant facility with an 85 percent occupancy rate.
AEW Capital Management sold the property for about $50 million and was represented by CB Richard Ellis brokers Jack Fraker, Darla Longo, Barbara Emmons, Louay Alsadek, Rob Merkin and Brent Wright.
Matt Aminoff, vice president in charge of the San Diego office of IDS Real Estate Group, said the property was bought through its IDS Realty JV II venture. He also highlighted that Kearny Mesa has been one of the best-performing markets in San Diego with a current industrial vacancy rate of just 3.8 percent. Aminoff said the main tenants are Sharp HealthCare (which occupies 40 percent of the project) and Owens Minor (occupies 66,000 square feet of space).
In other news, the San Diego regional headquarters of DPR Construction has been awarded net-zero energy, LEED(R) certification. The office building, located in University City at 5010 Shoreham Place, has become the first and only commercial office in San Diego over 20,000 square feet to achieve this distinction. The 24,000-square-foot office building is also the first and only commercial building to achieve LEED-NC Platinum in San Diego.
The project construction team was comprised of Elizabeth Barrie, Jeff Cole, Jerry McElfresh and Mark Seidl. The architect was Jonathan Wood of Seattle-based Callison.
DPR Construction is one of the largest general contractors in the country with over $1 billion in annual revenue.