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December 3, 2023
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Sorrento Mesa Building Trades in Sale/Partial Leaseback Deal


A 38k sf office building in Sorrento Mesa was purchased by local biotech company BPS Bioscience for $8.55 mil, or $225/sf. The building, located at 6405 Mira Mesa Blvd in the Central San Diego submarket, was sold by Vancouver-based construction company Ledcor Group.

The two-story building was originally built in 1990. The buyer intends to occupy most of the building, while leasing back a portion of the building to the seller.

The building fronts Mira Mesa Blvd, Sorrento Mesa’s most active thoroughfare that connects to San Diego’s two largest freeways, I-805 and I-15. An MTS Transit bus stop is in front of the building, providing quick access to the Sorrento Valley Coaster Station.

CBRE’s Matt Pourcho, Anthony DeLorenzo, Doug Mack and Bryan Johnson represented the seller in the deal. The buyer was repped by an outside firm.

“Now is the time for brokers to be creative with sales in the marketplace,” said Pourcho. “The partial leaseback really helped maximize value for the seller by allowing them to continue to occupy the space until another tenant is found.”

He added, “The submarket of Sorrento Mesa appeals to a wide variety of owners and tenants given the proximity to housing, amenities and other prominent, large corporations who are expanding in the area.”

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