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Saturday, Jul 20, 2024
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Sales and Leases



Sales:

A 40,800-square-foot, two-story office building in Sorrento Mesa sold for $12.5 million. The office building, located at 9860 Mesa Rim Road, is 100 percent leased to TriTech Software Systems, a provider of integrated public safety software solutions headquartered in San Diego.

Lynn LaChapelle, Ryan Dunigan, Tim Hoag and Bob Prendergast of Burnham Real Estate represented the seller, Terra Enterprises. The buyer, a real estate equity fund managed by Washington Capital Management, represented itself.

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CB Richard Ellis announced that the 14-building office development Spectrum at Bressi Ranch in Carlsbad has closed escrow on four buildings with five other buildings due to close in the next few weeks. In addition, negotiations are in progress for two additional buildings.

The buildings located at Palomar Airport and Gateway roads sold for a total of $7.46 million. Torrey Pines Bank purchased a 7,900-square-foot building. Investment banking firm Kinsell, Newcomb & De Dios Inc. purchased a 7,500-square-foot building. The law firm of DiCaro, Coppo & Popcke purchased a 5,700-square-foot building and Certified Public Accountant William F. Slattery purchased a 5,700-square-foot building.

Lannie Allee, Roger Carlson and Lars Eisenhauer of CB Richard Ellis are the leasing and sales representatives for Spectrum at Bressi Ranch. Jason Hughes of Irving Hughes Inc. represented Torrey Pines Bank. Aric Stark of Grubb & Ellis|BRE Commercial represented DiCaro, Coppo & Popcke.

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A two-story, 17,000-square-foot retail building at 7650 Girard Ave. in the Village of La Jolla sold for $6.86 million. The buyer was YDNL of San Diego. The sellers were HPA Properties and BDC Development Ltd., a subsidiary of All Star Investments headquartered in Boulder, Colo.

Phil Wise of Colliers International represented the seller. The buyer was represented by Rita Lancaster Hannah and Steve Fiorentino of Coldwell Banker Commercial Almar Group.

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An office and medical-use building in Highland Skypark, located near the intersection of Ruffin Road and Aero Drive in Kearny Mesa, sold for $2.46 million. The 8,300-square-foot building was sold to International Realty and Development. The sale is the third in the redevelopment project by Soledad Development Group.

Jay Arnett and Deborah Hunkeler of Burnham Real Estate represented the seller, and the buyer was represented by Bill Bacon of CB Richard Ellis Group Inc.’s San Diego office.


Leases:

Qualcomm Inc. leased 143,300 square feet of space at Pacific Center III and 23,000 square feet of space at Pacific Center I located at 10160 Pacific Mesa Blvd. and 10145 Pacific Heights Blvd., respectively, in Sorrento Mesa for an undisclosed sum. The recent lease-signing by Qualcomm brings the three-building, Class A office project totaling 535,000 square feet to 100 percent occupancy.

Bill Cavanagh and Andy La Dow of Grubb & Ellis|BRE Commercial handled negotiations on behalf of RREEF, owner and developer of Pacific Center. RREEF is a full-service real estate investment firm owned by Deutsche Bank. Bill Fleck and Scot Ginsburg of Staubach Co.’s San Diego office represented Qualcomm.

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CAR Financial Services Inc., doing business as ACC Consumer Finance LLC, signed a seven-year lease for 25,900 square feet of office space at 10770 Wateridge Circle from MetLife Real Estate Investment, a subsidiary of MetLife Inc., for $4.7 million. ACC Consumer Finance will relocate from the University Towne Center area.

The 179,000-square-foot, two-story office building is 85 percent leased.

Rob Merkin, Matt Nickels and Rick Sparks of CB Richard Ellis represented MetLife, and Mike Gallagher of Irving Hughes Inc. represented ACC Consumer Finance.

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Hawbrook Mission Valley, doing business as Sola Salon Studios, signed a 10-year lease for 8,900 square feet of office space at Crossroads Office Park located at 404 Camino Del Rio S. in Mission Valley for $2.7 million. Sola Salon Studios will move into its new space in July.

Ron Miller and Mark Wayne of Burnham Real Estate represented the lessor, Arden Realty. Kipp Gstettenbauer of Burnham Real Estate represented the lessee.

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Master Manuals Inc. signed a lease for 18,300 square feet of research and development space at 10965 Via Frontera in Rancho Bernardo from the Shidler Group. The five-year lease is valued at $1.45 million. Master Manuals produces manuals that detail a community’s maintenance requirements for homeowner’s association boards to follow.

Bill Dolan of CB Richard Ellis represented the Shidler Group and Rob Pew of CDC Commercial represented Master Manuals.

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Dr. Peter Mann signed a 74-month lease for 8,200 square feet of office space in Seville Plaza in Kearny Mesa for $1.36 million. This lease brings the occupancy at Seville Plaza to 93 percent occupied. The space will be used as a combined vein clinic and luxury medical spa called Clinique Rejuvenation.

The lessor, the Shidler Group, was represented by Richard Gonor and Tony Russell of Grubb & Ellis|BRE Commercial, and Mann was represented by East Haradin of Coldwell Banker Commercial.

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Cingular Wireless signed a five-year, $729,000 lease for 3,700 square feet of retail space at 347 Vista Village Drive in Vista from Vista Village LLC.

Dave Hagglund of CB Richard Ellis represented Cingular Wireless and Bruce Schiff of Grubb & Ellis|BRE Commercial represented Vista Village LLC.

, Michelle Mowad

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