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4/16/15
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Via Frontera Business Park, a two-building, 80.9k sf, multi-tenant industrial/R&D property in San Diego, sold for $10.5 mil ($130/sf). The property is located at 10965-10993 Via Frontera Drive, west of I-15 in the Rancho Bernardo submarket.
Via Frontera Business Park was built in 1982 and is situated on a 6.21-acre parcel that is surrounded by the offices of Microsoft, General Atomics, BAE Systems, Sony, and HP among many others.
Mark McEwen, Ted Cuthbert, and Matt Zimsky of Colliers International represented the seller, GCCFC 2007-GG9 Diamond Office, LP. The buyer, Seven C’s Group LLC, plans to occupy a portion of the buildings, which are currently 41% occupied.
“This investment represents a value-add opportunity for the buying group,” said McEwen. “Via Frontera Business Park provides the new owners a superior repositioning opportunity to acquire an institutional business park in a desirable location.”
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