Shidler Group sells California business park

Wireless communications co. set to move in

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

The Shidler Group has sold the three-building, 141,000-square-foot Pacific Point Business Park in Sorrento Mesa area of San Diego. The value of the transaction was $30.7 million. The three buildings in the business park, located on Pacific Center Blvd., have square footages of 54,712, 44,869 and 41,340 square feet. San Diego-based QUALCOMM Inc., a developer of digital wireless communications products and services, purchased the asset. At the time of the purchase, Gamma-Metrics, Tachyon Inc. and Fujitsu Transaction Solutions were the primary tenants at Pacific Point. Fujitsu recently signed a 63-month lease for 37,886 square feet of office and R&D space at the Sorrento Tech Business Park, a nearby property that is also part of the Shidler R&D portfolio. Gamma-Metrics and Tachyon have relocated elsewhere in Sorrento Mesa and QUALCOMM will now occupy 100 percent of Pacific Point Business Park. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....