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Two Sorrento Valley Properties Sold for $23.1 Million

Buchanan Street Partners of Newport Beach has purchased two neighboring office and industrial buildings in Sorrento Valley for approximately $23.1 million, according to CoStar Group and public data.

The seller of the properties, totaling 97,945 square feet at 5959 and 6059 Cornerstone Ct. West, was Lincoln Property Co. of Dallas, represented by Rick Reeder and Brad Tecca of brokerage company DTZ.

The 5959 building is an office property that was 81.6 percent leased at the time of sale, and the 6059 building is a research and development property that was fully leased. The buildings were constructed in 1987 and renovated in 2007 and 2008.

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