Grubb & Ellis/BRE Commercial on Wednesday announced the sale of the Pacific Sorrento Technology Park in San Diego, Calif.
The value of the transaction was $31.9 million.
The park, located at 10110-10150 Sorrento Valley Road, consists of three multitenant office and R&D buildings comprised of a total of 110,469 square feet. Originally constructed in 1980 and remodeled in 2000, it is situated on 12 acres and features a pond with a waterfall and lush landscaping.
The building located at 10110 Sorrento Valley Road is a 40,966-square-foot, three-story, multitenant office building. The other two buildings, located at 10130 and 10150 Sorrento Valley Road, are both single-story R&D buildings and are comprised of 22,090 square feet and 47,413 square feet, respectively.
At the time of sale, the park was 100 percent leased to five tenants: Scripps Health, Beckman Coulter, Optimer Pharmaceuticals, MicroConstants and La Jolla Radiology.
Pacific Sorrento Technology Park LLC sold the property to Helf Investments.
San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage firm operating in San Diego and Riverside counties.