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April 13, 2021
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Peregrine Realty Partners Entity Spends $33 Mil on Office Asset in Rancho Bernardo

4/02/21

The Promontory, a 98.2k sf, Class A multi-tenant office building in San Diegos Rancho Bernardo community, has been purchased by a limited partnership controlled by the principals of Newport Beach-based real estate firm for $33 mil ($336/sf). It was sold by Carleton Management.

Built by the seller in 1989, the three-story office property features an attractive atrium design and boasts great views of the surrounding area. Amenities at the property include a fitness center along with showers and lockers, common area conference rooms and numerous outdoor seating areas.

The Promontory is located at 11440 West Bernardo Court, within mile of I-15, connecting Rancho Bernardo to the rest of San Diego County. The asset was 97% leased at the time of sale to a diversified mix of tenants, including a RENTV sponsor, Premier Workspaces.

Carleton Management was represented by Randy LaChance of Voit Real Estate Services, along with Chris Williams of CBRE. CBREs Louay Alsadek, Hunter Rowe and Maddie Mawby repped the buying entity.




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