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California  + San Diego  + Office  | 

BLT Divests Repositioned Campus to Longfellow for $39M

Santa Monica-based BLT Enterprises sold the Sorrento Tech campus in San Diego’s Sorrento Mesa submarket to Longfellow Real Estate Partners for $39 million. The property is comprised of three creative office/R&D buildings totaling more than 93,480 square feet that are 100%-leased to CV Sciences, TorreyCove Capital Partners, L3 Technologies, and Ron’s Pharmacy.

BLT’s Bernard Huberman says, “We purchased the buildings mid-cycle, following the Great Recession, recognizing the value of their central location in a booming submarket.” BLT subsequently implemented a strategic repositioning plan to transform an asset that was one-third vacant, had functionally obsolete space, and two of the buildings had been distressed assets purchased from the prior lender.

The adaptive reuse renovations included converting 35,000 square feet of raw industrial space into innovative creative office product. The buildings are at 10070, 10140, and 10180 Barnes Canyon Rd.

SD Realty Partners’ Ron Jacobson, along with Cushman & Wakefield’s Rick Reeder and Brad Tecca, represented both parties.

For comments, questions or concerns, please contact Dennis Kaiser

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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.

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