High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + San Diego  + Office  | 

JLL Handles $43M Sorrento Mesa Life Sciences Asset Deal

TH Realty acquired 10222 Barnes Canyon, an 81,976-square-foot Life Science building in San Diego’s highly- desirable Sorrento Mesa submarket from Bollert LeBeau for $43.2 million. The two-story, Class A property is fully leased to two tenants, Invivoscribe Technologies and Crinetics Pharmaceuticals.

JLL’s Bob Prendergast, Lynn LaChapelle, Sach Kirpalani and John Morrison represented the seller. The buyer was self-represented.

“San Diego is one of the leading life science markets in the nation, ranking third behind Boston and San Francisco,” said Prendergast. “10222 Barnes Canyon provided the buyer with the opportunity to acquire a recently repositioned, stable asset in a growing submarket with high barriers to entry.”

In less than 24 months, Bollert LeBeau acquired the property, completed a $17 million renovation, executed leases for 100% of building, and sold the property. Renovations included a new building façade and window line, upgraded landscape, and removal of all existing interior improvements to construct Class A life science laboratories and office space.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With TH RealtyConnect With Bollert LeBeauConnect With JLL’s Prendergast

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action