A business actual property agency organized the sale of a 17,238-square-foot workplace constructing in Sorrento Mesa to a personal investor for $5.25 million, officers stated.
Matt Pourcho, Anthony DeLorenzo, Matt Harris and Scott Kincaid of CBRE represented the vendor, a San Diego-based personal investor. The unnamed purchaser was represented by CBRE’s Ted Jacobs, Hunter Rowe and Matt Carlson.
Situated at 5752 Oberlin Drive, the two-story workplace constructing was in-built 1982 and sits on .95 acre. The earlier house owners improved the constructing’s inside, and the outside options wood-framed partitions, glass doorways and home windows. The property consists of 49 paved parking areas and customary landscaping.
Pourcho described the client as “a high-net-worth native investor who intend(s) to occupy a small portion of the constructing.” The sellers obtained 9 affords on the property.
Located off Mira Mesa Boulevard, the constructing is in center of San Diego’s fastest-growing hub for tech and life sciences corporations. Up to now few years, Sorrento Mesa has recorded important development, with Oberlin dwelling to a number of the market’s life-sciences conversions and repositions.
Central San Diego continues to be the popular location for workplace tenants out there, aligning with nationwide tendencies of suburban workplace submarkets recovering sooner than downtowns, based on CBRE Analysis.
Within the second quarter of 2022, central San Diego’s workplace vacancies fell to 10.4%, with asking lease charges at $3.37.