Seligman Group, Pendulum Property Partners Acquire Mixed-Use Center in San Diego

by Katie Sloan

San Diego— A partnership between Seligman Group and Pendulum Property Partners has acquired Liberty Station, a 321,208-square-foot mixed-use center located in San Diego.

The property consists of a total of 20 buildings, which were 92 percent leased at the time of sale. Tenants include Vons, Trader Joe’s, Stone Brewing World Bistro and Gardens, Tender Greens, Soda & Swine and Starbucks Coffee.

Liberty Station is situated within a greater 360-acre master plan, which includes 850 homes; 350 hotel rooms; more than 400,000 square feet of office space; a nearly 100-acre arts district featuring more than 120 museums and galleries; and the High Tech School campus.

Gleb Lvovich, Bryan Ley, Tim Wright and Mike Moser of HFF represented the seller, McMillin Cos., in the transaction. Wright also worked alongside Kevin MacKenzie and Brian Torp of HFF to place a 10-year, fixed-rate loan for the acquisition of the property on behalf of the buyer. The sales price was undisclosed.

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