After it last traded in 2018, Governor Plaza, a 39,873 square foot office building, has been placed back on the market. According to a listing from Commercial Asset Advisors, the building is fully leased to a mix of office and lab users in San Diego’s University City neighborhood.
Located at 5151 Shoreham Place, the property is currently listed as unpriced. However, public records show that the property is currently owned by San Diego-based WL Investments, LLC, which acquired the building in 2018 for $10.8 million, or about $271 per square foot.
The property was built in 1984 and consists of two stories of office space as well as 138 parking spaces on a 2.41-acre lot. Current occupants at the property include RORE, Inc., RemX, Clelland & Co., Flore by Sun Genomics and others.
Governor Plaza is located within San Diego’s “Golden Triangle.” a region bounded by State Route 52 and Interstates 5 and 805. The area is home to a number of life science and office users and also offers close proximity to various institutions, such as University of California at San Diego, the Salk Institute and Scripps Clinic. The region is also home to major companies like Amazon, Ilumina, Apple and Qualcomm, among others.
“The Governor Park submarket in San Diego is a boutique submarket benefiting from its proximity to UTC, Torrey Pines, and Sorrento Mesa that contains around 930,000 square feet of office/lab space,” the property listing states.
