December 5, 2016
Carlsbad, CA-based Newport National Corp. acquired a 20.95-acre site containing a 146,549-square-foot, Class A office building in San Diego’s Sabre Springs/I-15 Corridor submarket for $31.36 million. The property is entitled for 325,800 square feet of multi-tenant office space.
Newport National plans to revitalize the existing building that was constructed in 2000. Development of a second, 179,250-square-foot multi-tenant building will create an innovative office campus named Summit Pointe.
Initial plans for Summit Pointe include a revised building exterior, new lobby and multi-tenant common areas with indoor/outdoor venues, a conference center, and indoor/outdoor fitness center. Plans also include enhanced outdoor site amenities, including an outdoor kitchen/bar, sports courts, collaboration areas, fire pits, an event conference terrace, and a food truck venue with dining areas.
Colliers International’s Mark McEwen and Chris Williams represented the seller, HD Supply. The buyer was self-represented.
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