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September 10, 2015

Rancho Bernardo industrial building on Via Esprillo sells

San Diego Source

The 165,600-square-foot flex industrial/R&D/office building in Rancho Bernardo at 1655 Via Esprillo, San Diego 92127, has been sold for $30 million, cash, as a sale/leaseback transaction.

The buyer was W/GL Via Esprillo Holdings VII LLC, c/o Greenlaw Partners LLC, 18301 Von Karman Ave., Suite 250, Irvine 92612.

The seller of the property (assessor's parcels 678-272-13, 14 and 32) was Soitec Solar USA Real Estate LLC, withSoitec Solar Industries LLC as its sole member. Emmanuel Ferton is the authorized signatory for the seller.

Douglas Fine, of Savills Studley, represented the buyer. Mickey Morera, of Kidder Mathews, represented the seller.

The transaction included the one-story, free-standing building, an adjacent 3.32-acre parking lot, and another 2.78-acre designated parking lot acquired in December 2011 for $2,064,000.

The building was constructed in 1997 on 8.81 acres and, with the 3.32-acre parking lot, was sold in December 2011 for $26.5 million.

The building is 70 percent climate controlled open office/R&D space, 30 percent warehouse with a 27-foor clear height. There is an additional 16,000 square feet of mezzanine storage area.

The building has 12 dock-high loading doors and one grade-level door, a fenced yard area, a full-service cafeteria, an outdoor patio/lunch area and a sand volley ball court.

In late 2011, Soitec, a French manufacturer of electrical semiconductor materials, announced it had selected 16550 Via Esprillo for its new North American solar-manufacturing headquarters for its proprietary Concentrix concentrated photovoltaic technology solar modules.

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