Crescent Coast Partners Acquires San Diego Office Building in $30M Real Estate Acquisition
Crescent Coast Partners has completed the $30 million real estate acquisition of Terraces at Copley, a Class A office building in San Diego's Kearny Mesa submarket, according to an announcement from Newmark. The transaction for the 205,725-square-foot property at 5887 Copley Drive represents a significant office real estate sale as the market shows signs of stabilization.
Newmark Executive Managing Directors Brad Tecca and Rick Reeder, in collaboration with Co-head, U.S. Capital Markets Kevin Shannon, represented both buyer Crescent Coast Partners and seller Peakstone Realty Trust in the transaction.
Office Real Estate Transaction Signals Market Confidence
The sale generated significant investor interest, according to Tecca, signaling growing confidence in the office sector from both equity and debt capital sources. "This transaction presented an early-cycle opportunity to acquire a best-in-class Class A asset at an attractive basis with substantial near-term upside potential," Tecca said.
The transaction valued the property at approximately $145.88 per square foot. Built in 2009, the six-story office building features 36,000-square-foot floor plates and sits atop a bluff with 360-degree views of Interstate 5 and Highway 52. The property was 70.7% leased at time of sale, providing a stable income stream and opportunities for value creation through lease-up of the remaining vacancy.
Property Features and Tenant Profile
Terraces at Copley has served as the corporate headquarters for Guild Mortgage since 2016. The building offers extensive amenities including a full-service café, fitness facility with yoga and dance rooms, showers and lockers, outdoor patio and workspace, athletic sports court, outdoor lounge and viewpoint, putting green, and covered parking with EV charging stations.
San Diego Office Market Shows Resilience
The San Diego office market is demonstrating signs of stabilization amid broader economic shifts, according to Newmark Research. San Diego's suburban Class A and B vacancy concluded 2025 at 13.7%. Sublease space reduced to 3.2% of inventory with a modest positive net absorption of 9,046 square feet in the quarter.
"With some of the strongest market fundamentals on the West Coast, we anticipate office transaction volume in San Diego to increase significantly as we enter 2026," Tecca said.
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