Offer Price:

$8,900,000

Price/SF:

$198.43

CAP Rate:

6.24%

NOI:

$555,006

Leased:

100%

Gross SF (BOMA):

44,851 SF

Status:

Available



Investment Highlights

  • 100% Leased High Corporate Image Class-B Office
  • 44,851 Gross SF (BOMA) on 7.82 Acres of Land
  • High Credit Corporate and Publicly Traded Tenants
  • Asset is Anchored by Golden Hour Medical Software Solutions Firm Recently Acquired by Zoll Medical Corp. (NASDAQ:ZOLL)
  • In-Place Rental Rates $1.66/SF Gross + E, Apx. 24% Below Market
  • Priced at $198/SF, Significantly Below Replacement Value
  • Professionally Managed and Exceptionally Maintained
  • Elevator Served, Private and Secured Suite Entrances, Modern Lobby, Outdoor Patios, and Canyon Views

Sorrento Mesa:

  • Highest Concentration of Fortune 500 Companies in San Diego
  • 213K SF of Positive Net Absorption for Q1 2019
  • Average Market Office Rates have Reached $2.92/sf/mo Gross with Leases Signed for Class-B Product at $2.05/sf/mo + E
  • Strongest Growth Market in San Diego only Behind UTC

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