Arden Makes San Diego Acquisition

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Arden Realty said Thursday that it has acquired five properties in San Diego from New York-based DRA Advisors LLC for $162 million.


The purchase is for more than 530,000 square feet of office space in 10 separate buildings in San Diego’s north and central submarkets, some of the city’s most desirable areas.


Currently, the Los Angeles real estate firm said the portfolio is 88 percent occupied by 36 separate tenants, including Allstate Corp., Panasonic Corp., Samsung Corp. and Northrop Grumman Corp.


Arden Realty was acquired earlier this year by General Electric Co. and is one of the largest office landlords in Southern California with 15.3 million square feet of space.

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