Bixby Land Company, a Newport Beach-based investor, has recently sold The Oberlin, a 62,424 square foot creative office building located at 5889, 5893 and 5897 Oberlin Drive in San Diego, CA. The building was sold to CPF Oberlin Associates, LLC, a subsidiary of Crown Realty & Development, Inc., for a purchase price of $20.4 million. Bixby Land Company purchased the building in September 2014 and completed an extensive redesign of the project to create a contemporary work environment to support today’s innovative companies. The redesign included outdoor gathering and work spaces, a fitness area and updated interior and exterior finishes. At the time of the sale to CPF Oberlin Associates, LLC, the project was 66% leased to Verimatrix, Bravo Sports and Digital Addix. Bob Prendergast and Lynn LaChappelle of Jones Lang LaSalle represented both the buyer, Crown Realty and Bixby Land Company.
Bixby Land Company Sells San Diego Office Building