First Allied Plaza was Part of a $704 Million Purchase

First Allied PlazaOne of downtown San Diego’s commercial towers was purchased along with 10 other properties around the country for a grand total of $704 million. The 23 story property at 655 W. Broadway is called First Allied Plaza. It was completed in 2005 and has 376,703 square feet of commercial space.

 

The seller was MetLife Real Estate Investments, which purchased this complex at the end of 2014 for $156.8 million. The buyer was New York State Common Retirement Fund. They ended up with a total of 3.6 million square feet in 7 different cities. Dallas, Atlanta, Miami, San Jose, Arlington and Chicago.

 

I remember the first time I entered this property and took the elevator up to the 20th floor. My God, the views to the west were incredible, until Electra was built right in front of it, lol. I was receiving an earnest deposit from a client that purchased a downtown condo at Trellis.