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Re-Tenanted Kearny Mesa Offices Snag $82M Refi
JLL Capital Markets arranged an $82.46-million refinancing for Sunroad Centrum Office Tower, an 11-story, Class A office building totaling 274,758 square feet at 8620 Spectrum Center Blvd. in the Kearney Mesa submarket of San Diego. The JLL Debt Advisory team led by senior managing directors Aldon Cole and Tim Wright and VP Bharat Madan worked on behalf of the borrower, Sunroad Enterprises, to secure the five-year, fixed-rate senior loan through Goldman Sachs.
Originally built in 2008, Sunroad Centrum Office Tower was previously 100% occupied by Bridgepoint Education, which vacated in 2020 at the expiration of its lease. Sunroad invested $30 million to re-tenant the building and at closing the building was 100% leased.
“The fact we were able to get the building fully leased and refinanced is a testament to the location, amenities and teamwork of our brokers, designers, architects and capital markets team,” said Sunroad president Dan Feldman. “And the fact that Goldman Sachs was the finance partner speaks to the financial strength of the tenant roll and Sunroad’s ownership.”
- ◦Financing
