Newmark Facilitates $30 Million Sale of Terraces at Copley in San Diego, California

January 20, 2026 9:00 AM

Newmark announces the Company has arranged the $30 million sale of Terraces at Copley, a 205,725-square-foot Class A office building at 5887 Copley Drive in San Diego’s Kearny Mesa submarket. Newmark Executive Managing Directors Brad Tecca and Rick Reeder, in collaboration with Co-head, U.S. Capital Markets Kevin Shannon, represented the buyer Crescent Coast Partners and the seller Peakstone Realty Trust in the transaction.

“The sale of Terraces generated significant investor interest, signaling growing confidence in the office sector from both equity and debt capital sources,” said Tecca. “This transaction presented an early-cycle opportunity to acquire a best-in-class Class A asset at an attractive basis with substantial near-term upside potential. With some of the strongest market fundamentals on the West Coast, we anticipate office transaction volume in San Diego to increase significantly as we enter 2026.”

Perched atop a bluff with 360-degree views of Interstate 5, Highway 52 and the surrounding area, the six-story Terraces stands as one of the most recognizable office properties in San Diego County. The 2009-built property features large, efficient and divisible 36,000-square-foot floor plates, unobstructed views, a full-service café and an array of on-site amenities including showers and lockers, a fitness facility with yoga and dance rooms, an outdoor patio and workspace, an athletic sports court, outdoor lounge and viewpoint, a putting green and covered parking with EV charging stations.

Terraces has served as the corporate headquarters for Guild Mortgage since 2016. The property was 70.7% leased at time of sale, providing a stable income stream and opportunities for value creation through lease-up of the remaining vacancy.

The San Diego office market is showing resiliency amid broader economic shifts and demonstrating signs of stabilization. San Diego’s suburban Class A and B vacancy concluded 2025 with vacancy at 13.7%. Sublease space reduced to 3.2% of inventory with a modest positive net absorption of 9,046 square feet in the quarter, according to Newmark Research.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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