San Diego Business Journal

Sorrento Mesa Building Housing USC Research Center Sells for $12.5M

By Lou Hirsh Sunday, June 18, 2017
   

A Beverly Hills buyer recorded as Mesa Rim LLC has purchased a Sorrento Mesa office building housing the University of Southern California’s Alzheimer’s Therapeutic Research Institute for $12.5 million, according to CoStar Group and public data.

The seller of the 40,755-square-foot building, at 9860 Mesa Rim Road, was an affiliate of Seattle-based Washington Capital Management Inc. The seller was represented by Matt Pourchco, Gary Stache, Anthony DeLorenzo and Mark Shaffer of brokerage firm CBRE Group Inc.

A CBRE statement said the two-story property was fully leased at the time of sale by USC and serves as the headquarters for the research institute, which is part of the university’s Keck School of Medicine.

While not naming the buyer, brokers said the purchaser is a high-net-worth individual who plans to keep the property as a long-term investment. The property was built in 2000 and is located within a business park known as Canyon Rim.