Longfellow Continues San Diego Buying Spree
Longfellow Real Estate Partners’ seventh acquisition in San Diego since entering the market in September 2018 brings the firm’s regional portfolio to 1 million square feet. The life science developer recently acquired The Oberlin, a 4.14-acre office park and development site in Sorrento Mesa comprising three office buildings and upwards of 265,000 square feet of new development potential.
The Oberlin is Longfellow’s third acquisition of the past year in the rapidly emerging Sorrento Mesa biotech cluster. The developer will soon release its plans for the property, which is primed for new ground-up development. The campus is currently 77 percent leased to four tenants with short remaining lease terms.
Capitalizing on the growing ecosystem of life science tenants in the region, the new campus and development site builds on Longfellow’s October 2020 acquisition of the Foundry, a 280,000-square-foot office park, and its May 2020 acquisition of Sorrento Tech, a 93,000-square-foot campus.
Crown Realty & Development’s Kreg Groat represented the seller. The transaction was brokered by Bob Prendergast, Lynn LaChapelle and Sach Kirpalani of JLL.