Dallas-based Prentiss Properties Acquisition Partners purchased The Bluffs, a 4-story, 68,600-square-foot class A office building, in Rancho Bernardo, Calif.
The value of the transaction was $17.8 million.
The multitenant office property is located on a 3.4-acre parcel at 16870 West Bernardo Drive.
The seller was 16870 Bernardo Partners LP, in care of The McDonald Group.
At the time of sale, The Bluffs was 72 percent occupied. Major tenants include The University of Phoenix, Wachovia and First Choice Executive Suites.
Colliers International represented both the buyer and the seller in this transaction.
Colliers International is a provider of commercial real estate services.
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