 |
| 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
No comments:
Post a Comment