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Three Ground Leases in Sorrento Mesa Sell for $41.5 Mil

8/28/20

A private investor paid $41.5 mil for the ground leases of three parcels totaling approximately 12.5 acres in Sorrento Mesa. The assets were sold by San Francisco-based real estate investment firm Stockbridge Capital Group.

The first parcel is under three flex office buildings totaling 76k sf, located at 5744, 5754 and 5764 Pacific Center Blvd. The second parcel is under two data center buildings that total 115k sf, located at 5732 and 5738 Pacific Center Blvd. The third parcel is a 0.85-acre piece of open space that is adjacent to the other two properties.

The properties are two miles from the connection of I-5 and I-805, two major San Diego freeways that connect Sorrento Mesa to the rest of San Diego County. Westfield UTC, a popular shopping mall in the area, is less than four miles from the site.

CBREs Louay Alsadek, Hunter Rowe and Madison Mawby represented the seller in the transaction. The buyer, a private investor, was repped by Bob Safai of Madison Partners.




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