HOUSTON (July 11, 2014) — Lionstone Investments, the Houston-based national real estate investment firm, announced today the acquisition of Torrey Reserve West, a premier office campus located in San Diego’s scenic Del Mar Heights submarket. Completed in 2000, Torrey Reserve West consists of three, two-story buildings totaling 118,030 square feet and abundant surface and structured parking. The property, which is 90.0% leased, boasts modern architecture, efficient floor plates and distinguished neighboring tenants.
Torrey Reserve West lies within the leading Del Mar Heights office submarket, which totals over 4.4 million square feet (Class “A” & “B”) and features the highest rental rates in San Diego County. Employers are attracted to the submarket due to the proximity to the highly educated labor pool and executive housing areas of La Jolla, Del Mar, Rancho Santa Fe, Fairbanks Ranch and Carmel Valley. In addition, the Property offers tenants excellent regional access via Interstates 5, 805 and Highway 56 to a rich amenity base, as well as many of Southern California’s spectacular coastal cities; such as Del Mar, La Jolla and Solana Beach.
“Not only is this property well-positioned within San Diego’s premier office submarket, but it’s also situated on 7 acres and adjacent to both Interstate 5 and the Torrey Pines State Reserve,” said Lionstone Co-Founder and CIO, Glenn Lowenstein. “It’s an optimal strategic location that continues to attract the most desirable tenants.” Lionstone Investments, armed with proprietary research and analytics, are adept at pinpointing with great conviction productivity-driven investments in irreplaceable locations.
Philip Monroe, Principal of Locale Advisors, partnered with Lionstone on the acquisition.