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NKF Handles Sorrento Valley Office Campus Deal
Cornerstone Plaza, a two-building multi-tenant office campus totaling 97,316 square feet in the heart of San Diego’s Sorrento Mesa submarket, has traded hands. The $18.85 million sale was handled by NKF’s Kevin Shannon, Brunson Howard, Paul Jones, Ken White, Rick Stumm, and Andrew Pascale, on behalf of seller Omninet.
The buyer, Salt Lake City-based Bridge Investment Group, was represented by JLL’s Tim Olson. This acquisition marks Bridge’s entrance into the San Diego office market.
Built in 1996 and situated on 5.04 acres at 6160 and 6170 Cornerstone Court East, the asset is 67% occupied. Tenants include Broadcast Company of the Americas, Robbins Research International, and Bentley Systems. The buildings are joined by a unique, furnished outdoor gathering space activated by an inviting water feature, and bordered by lush landscaping and collaborative spaces.
Howard says, “Cornerstone Plaza is highly flexible, institutional quality real estate with immediate value-add potential. Buyers were attracted to an increasingly rare opportunity to unlock additional value both in leasing up the existing vacancy, and upgrading its multiple indoor and outdoor common areas.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
