A Sorrento Mesa building that’s being converted into a life science project has been sold for $17 million.
LPC West, Inc., the West Coast operating division of Lincoln Property Company, sold the 62,392 square-foot building at 9877 Waples St.
The buyer, an affiliate of Alexandria Real Estate Equities, will complete the renovations on the two-story building.
Andy Huggett, Bill Dolan and Sean Williams of CBRE represented LPC West and Alexandria’s affiliate represented itself.
LPC West also leased an entire 39,644 square-foot industrial-flex lab property at 9955 Mesa Rim Road in Sorrento Mesa to Biocept, Inc.
Financial terms of the 127-month lease on the two-story building were not disclosed. The lease will commence in the fourth quarter of the year.
Biocept is a molecular diagnostics company that supplies its proprietary liquid biopsy technology to physicians for treating and diagnosing cancer patients.
Jack Hughson and Glenn Arnold of Cushman & Wakefield represented LPC West in the lease transaction.
Greg Bisconti of Cushman & Wakefield represented Biocept.
