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Drawbridge Ends Ownership of 6650 Nancy Ridge
Drawbridge Realty recently completed the sale of 6650 Nancy Ridge, a 24,200-square-foot lab building in San Diego’s Sorrento Mesa life science cluster, for $15.9 million. The buyer was Santa Monica-based Miramar Capital.
Drawbridge acquired the vacant property out of bankruptcy in 2013 for approximately $2 million and immediately began renovations and repositioning with the intent of creating a research laboratory leased to a single-tenant user. Following the renovation completion, Drawbridge initially leased the entire building to Monsanto on a triple-net basis.
Nick Psyllos, assisted by Grant Schoneman and Chad Urie, all from JLL’s San Diego office, represented Drawbridge Realty in the sale. Olga Walsh, JLL capital markets director, arranged acquisition financing for the buyer.
Earlier this year, with the help of Schoneman and Urie, Drawbridge successfully re-tenanted 6650 Nancy Ridge, signing a lease with a U.S. unit of LumiraDx, a firm specializing in diagnostics and the developer of a successful SARS-CoV-2 antigen test.
- ◦Sale/Acquisition
