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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
- ◦Sale/Acquisition


