Private party sells San Diego office space
Asset located in hot Sorrento submarket
By Inman News, Wednesday, February 22, 2006.Grubb & Ellis/BRE Commercial arranged the sale of a 65,982-square-foot office building in San Diego, Calif.
The sale was valued at approximately $9.7 million.
The property is located at 5580 Morehouse Drive in one of San Diego's most prominent office and R&D submarkets, Sorrento Mesa. The property sits on approximately 4.3 acres and was 100 percent leased to two tenants at the time of sale. In preparation for future vacancy, the new owner is in the design phase to upgrade interior and exterior areas of the building.
The seller was Naoto Ohtsuki, an individual. The buyer was RJ Morehouse Investors LLC.
San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage firm operating in Southern California.
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