|A 26k sf office building in San Diego’s Sorrento Valley sold for $4.3 mil ($165/sf). The two-story, multi-tenant building is located at 10455 Sorrento Valley Rd, south of Sorrento Valley Blvd and adjacent to I-805.
Brandon T. Keith, Senior Vice President in Voit’s San Diego office, worked with Sam Higgins, who represented the buyer, Cal-Sorrento LTD. The buyer plans to operate the property as an investment and is actively marketing vacancies for lease. Since it is located close to the 805 Fwy entrances and backs up to south bound lanes of the 805 Fwy, it offers good potential freeway signage.
“As commercial markets that surround Sorrento Valley continue to improve, such as Del Mar Heights, Sorrento Mesa, and UTC, Sorrento Valley becomes an ever more attractive investment location,” according to Keith. “With multiple access points to the 5 and 805 freeways, plus pending enhancements to the 805 on/off ramps from Sorrento Valley/Mesa, tenants and investors are focusing on this niche submarket as a cost effective alternative.”