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July 17, 2018
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Sorrento Mesa R&D/Flex Buy Financed with $22 Mil Loan

4/03/18

A Newport Beach-based private investor acquired a 103.8k sf R&D/Flex corporate campus property in San Diegoís Sorrento Mesa submarket. The property was purchased with $21.9 mil in permanent financing provided by MetroGroup Realty Finance.

The property, located at 10307 and 10309 Pacific Center Ct, was sold by Colony Northstar Inc, a publicly-traded global real estate investment company. It is fully leased to Quantum Design International, a global manufacturer and distributor of instrumentation used in the materials science, physics, chemistry, biotechnology and nanotechnology industries. The tenant, which has locations in 20 countries, uses the location for its world headquarters.

MetroGroupís Patrick Ward originated the seven-year loan, which has a 30-year amortization, a fixed rate of 4.2% and a loan-to-purchase-price of 69%. Michael Hartel of Colliers International represented the buyer, and worked directly with the seller in the transaction.






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