LPC West & Crow Holdings Capital Acquires 21-Acre Commercial Property in Kearny Mesa

LPC West & Crow Holdings Capital Acquires 21-Acre Commercial Property in Kearny Mesa

A partnership between LPC West, Inc., the West Coast operating company of Lincoln Property Company, and a private equity real estate fund advised by Crow Holdings Capital has acquired approximately 80,233 square feet of existing office buildings on 21.04 acres of land at 5650 & 5560 Kearny Mesa Road in San Diego, California from Cubic Corporation for $35 million. The three-building property sits at the southwest corner of State Routes 52 and 163.

“We are excited to conclude the purchase of this centrally located site in Kearny Mesa,” said Brig Black, executive vice president of LPC West. “The site is highly visible and provides convenient access to multiple freeways.”

The partnership’s future plans include redeveloping the entire property.  “Kearny Mesa is getting a lot of attention right now, for its central location within the County and for the positive steps that our City officials are taking to update the local community plan,” added Black.

Several changes in Kearny Mesa have raised its profile in recent years, including an influx of specialty restaurants and micro-breweries; the City of San Diego’s Kearny Mesa Connected collaborative effort to update the Kearny Mesa community plan; a projected quadrupling of the floor-to-area ratio zoning allowances in parts of the community; and the planned revitalization of Convoy Street.

The San Diego office of LPC West currently oversees two million square feet of office, industrial, life science and specialty mixed use space throughout San Diego County.

About LPC West

LPC West is a division of Lincoln Property Company, founded in 1965 and headquartered in Dallas, Texas. Lincoln Property Company is a national real estate investment and development firm offering a comprehensive suite of value-added services for its clients, with nearly 400 offices nationwide. LPC West maintains offices in San Diego, Orange County, Los Angeles, San Francisco, Portland and Seattle and oversees the management, acquisition and development of over 30 million square feet of commercial property. Access www.lpcwest.com for more information.