Wednesday, June 22, 2016

BLT Enterprises Acquires $12.6 Million Office Campus in San Diego’s Sorrento Mesa Market

Sorrento Tech II, Sorrento Mesa Submarket, San Diego, CA

Bernard Huberman
SAN DIEGO, CA (June 22, 2016) –  BLT Enterprises, a multi-faceted commercial real estate investment company, has acquired Sorrento Tech II, a two-building,  63,333 square-foot office and R&D campus located in the Sorrento Mesa submarket of San Diego for $12.6 million, according to Bernard Huberman, Founder and President of BLT Enterprises.

            The property was renovated in 2014 and was 87-percent leased to two large tenants at the time of the acquisition. 

            “BLT is focused on developing and acquiring high quality properties,” Huberman notes.  “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.”

Sorrento Mesa is home to tech tenants including Qualcomm, Verizon and Sony, has direct access to the I-805, and tenant amenities are available in the nearby Westfield UTC.

“The coastal regions of Los Angeles, Orange County, and San Diego are poised for continued economic growth and long-term value creation,” Huberman added.  “Our strategy is to acquire and develop commercial properties in primary growth markets, which is what we have accomplished with this property acquisition.”

Ron Jacobson
Ron Jacobson of Madison Partners represented BLT in the transaction.  The seller was represented by Sean Fulp and Brunson Howard of NGKF Capital Markets.  Sorrento Tech II is located at 10140 and 10180 Barnes Canyon Road, San Diego, California.

“We are very actively seeking additional properties in which we can bring value to companies and tenants seeking expansion in these dense population areas near major transit corridors,” Huberman reports.

BLT is currently in escrow on another property within the same market.

            Headquartered in Santa Monica, Calif., BLT Enterprises was founded in 1984 and is a multi-faceted real estate investment company with an exceptional track record of success in industrial and commercial real estate. The firm has developed or acquired more than $2 billion in assets to date.

BLT Enterprises specializes in the acquisition, entitlement, development, operation, and property management of industrial, office, retail, mixed-use and special-use properties

For a complete copy of the company’s news release, please contact:

Devin Ugland/ Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940

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