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October 02, 2015

Sorrento Mesa Industrial Park Sells for $90M

San Diego Business Journal

Lou Hirsh

An affiliate of New York-based Clarion Partners has acquired the five-building Pacific Technology Park in Sorrento Mesa for $90 million, according to CoStar Group and public data.

The sellers of the industrial property, at 9389-9477 Waples St., were Pacific Tech Property Inc. of San Diego and San Francisco-based Deutsche Asset & Wealth Management.

The sellers were represented by Jeff Chiate, Jeffrey Cole and Edward Hernandez of Cushman & Wakefield; and Mickey Morera and James Duncan of Kidder Mathews. The buyer represented itself.

The 30.8-acre business park was approximately 80 percent occupied by 13 tenants at the time of sale. The warehouse buildings were constructed in 1989, 1990 and 1991.

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