Forty 180 is a 100,000 square foot 5-story office building located in San Diego’s amenity rich and highly desirable UTC submarket. The property was acquired at a compelling basis in late 2018 just as the submarket was beginning to experience significant rental rate appreciation.
Regent successfully executed on the business plan maintaining high occupancy and managing vacancies. Regent reinvested into the project through tenant improvements and a light cosmetic capex campaign, helping elevate the building to a best-in-class asset.
Over the course of the hold period, Regent was able to increase strike rates at the property by 44% and secure a diverse rent roll of finance, tech, and medical tenants. Regent sold the property in late 2022.
