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California   /   April 5, 2021

Lisa Brown
By: Lisa Brown

Promontory Gets Abundant Investor Interest, Sells for $33M

Promontory, a class-A multi-tenant office building in North San Diego’s Rancho Bernardo community, was recently purchased for $33 million. The buyer was a Limited Partnership controlled by the principals of Newport Beach-based real estate firm Peregrine Realty Partners.

The 98,249 square-foot three-story office property was originally constructed by the sellers in 1989. The office property is located at 11440 West Bernardo Ct., within a half-mile of I-15. Promontory was 97 percent leased at the time of sale to a diversified mix of tenants.

The seller, local real estate development firm Carleton Management, was represented by Randy LaChance of Voit Real Estate Services who was assisted by Chris Williams of CBRE. The buyer representatives were CBRE’s Louay Alsadek, Hunter Rowe and Maddie Mawby.

“The Promontory is a very strong asset in one of San Diego’s most desirable submarkets,” says Alsadek. “The building’s hilltop location provides tenants with panoramic views of beautiful North County.”

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Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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