BH Properties Picks Up San Diego Office Campus
This marks yet another deal part of a longer acquisition streak.
Image courtesy of Yardi Matrix
BH Properties has purchased Mission City Corporate Center, a 285,876-square-foot office campus in San Diego. City Office REIT was the seller, according to Yardi Matrix. JLL Capital Markets arranged the deal on behalf of the seller.
BH Properties is on a bullish streak, having acquired some 1 million square feet of primarily office space across seven properties in 2025. These recent purchases include other assets in California, namely the 104,201-square-foot Cannery and the 110,669-square-foot 2125 O’Nel, both located in metro San Jose.
JLL Capital Markets Senior Managing Director Michael Leggett, Senior Director Kurt Luedtke, together with Managing Directors Lynn LaChapelle and Bob Prendergast, represented the seller in the transaction.
A San Diego office campus, up close
Mission City came online in two phases, in 1991 and 2008, at 2355 Northside Drive. The campus comprises four buildings across a 12-acre site, with floorplates ranging from 15,000 to 18,000 square feet. One of the buildings rises six stories, while the other three buildings are all three stories tall. Recent renovations added a fitness center, tenant lounge, outdoor work area and EV charging stations.
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The tenant roster includes InnovaSystems International, Pickford Escrow Co., C&S Cos., Geosyntec Consultants and Environmental Science Associates. The property was 94 percent leased at the time of the sale.
The campus is close to several major thoroughfares, including California State Route 15 and interstates 8, 15 and 805. Downtown San Diego is 7 miles south. The property is adjacent to Snapdragon Stadium and the 560,000-square-foot Fenton Marketplace shopping center—with a roster that features IKEA, Costco Wholesale and Lowe’s. Some 2.5 miles west of Mission City, BH Properties bought The Landing at HZRD in 2024, a mixed-use asset with a 268,645-square-foot office component.
San Diego office, on the sunny side once more
In 2025, San Diego’s office market registered some $1.4 billion in investment sales, with 48 properties changing hands at an average price of $267 per square foot, marking a significant improvement from the prior year, according to Yardi Matrix. In 2024, the metro saw a little over $1 billion in sales, with 50 assets trading at an average price of $219 per square foot.
Nationwide, last year recorded more than $53 billion in office investment, with an average price of $192 per square foot, recent data shows. San Diego ranked 10th, just above Phoenix, New Jersey and Denver, all at totals around $1.3 billion.
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