June 27, 2016
Santa Monica, CA-based BLT Enterprises acquired Sorrento Tech II, a two-building, 63,333-square-foot office and R&D campus located in the Sorrento Mesa, CA submarket of San Diego for $12.6 million.
The property, located at 10140 and 10180 Barnes Canyon Rd., was renovated in 2014 and is 87% leased to two large tenants.
BLT’s Bernard Huberman says, “This business park offers increased value through our ability to lease the final 8,000 square-foot space, as well as utilizing our in-house management team to ensure this property continues to offer high quality space in a strong submarket.”
Madison Partners’ Ron Jacobson represented BLT in the transaction. NGKF Capital Markets’ Sean Fulp and Brunson Howard represented the unnamed seller.