Flex Office Offers Option for Conversion or Ground-Up Life Science Facility

A vacant two-story 40,811-square-foot office/flex building at 10170 Sorrento Valley Rd. recently sold to Phase 3 Real Estate Partners. The price was undisclosed. The 2.9-acre property allows a conversion option or ground-up development to a life science facility.

Newmark’s Brunson Howard, Kevin Shannon, Paul Jones, Ken White, Steve Bruce and Chris High represented the seller, CIRE Equity.

“The Sorrento Mesa life science and technology real estate market is extremely supply-constrained with very few sites remaining for future development,” said Howard. “This property offers a true blank slate, value-add opportunity to deliver state-of-the-art life science improvements in a surging innovation cluster in coastal San Diego.”

The property is situated at the nexus of Sorrento Valley and Sorrento Mesa, two of the most active life science and technology clusters in the San Diego market. The property is fully vacant, allowing the buyer the opportunity to execute a highest and best vision, leveraging the life science fundamentals in the Sorrento marketplace.