The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
November 21, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
Virtus Real Estate Capital Makes $20 Mil San Diego Area Office Buy

10/11/19

Virtus Real Estate Capital purchased Sunroad Plaza, a 71.9k sf office campus in San Diego’s Rancho Bernardo area, for $19.9 mil, or $277/sf. The two-building complex, located at 11770 Bernardo Plaza Ct, was sold by Sunroad Enterprises.

The property consists of one three-story building and one four-story building, with on-site showers and lockers, executive conferencing facilities and 423 parking spaces. Sunroad Plaza was 82% leased at the time of sale to a mix of government, medical and professional office users and boasts a historical occupancy averaging 93% over the last five years.

The property is located in the Rancho Bernardo submarket of North County San Diego and is adjacent to the I-15 Fwy, which connects the area to the rest of the county. Within three miles of Sunroad Plaza are 319 restaurants, 123 banking locations, 102 grocery stores, 14 health and fitness centers and 25 hotels. The household income within a three-mile radius is more than $140k.

CBRE’s Matt Pourcho, Anthony DeLorenzo, Gary Stache, Doug Mack and Bryan Johnson represented Sunroad Enterprises in the transaction. Lars Eisenhauer, also with CBRE, repped the buyer.

“This location in Rancho Bernardo is very rich with amenities, has a strong residential base and is strategically located just off the I-15 Fwy,” said Pourcho. “Over the next five years, we have estimated that Rancho Bernardo will experience a 15.4% rental-rate growth, supported by strong tenant demand and tightening market conditions. This was an excellent opportunity for the buyer to acquire an asset and reposition to a full medical campus.”






Return to the Archive page


 


 
 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media