City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") announced today that it has entered into definitive agreements to sell all of its holdings in the Sorrento Mesa submarket of San Diego for $576 million . The transactions are expected to generate net proceeds, after estimated closing and transaction costs, of approximately $546 million , which equates to $12.38 per common share. The properties to be sold are unencumbered by debt.