American Assets Trust, Inc. a U.S. real estate investment trust company, has agreed to buy La Jolla Commons in the University Town Center area of La Jolla.
American Assets Trust intends to buy La Jolla Commons for a purchase price of $525 million.
La Jolla Commons includes two trophy office towers, an entitled development parcel and two parking structures, located in the preeminent University Town Center submarket of San Diego, California.
More so, the two trophy office towers consist of approximately 724,000 square feet. The transaction is subject to customary closing conditions.