CBRE Announces Sale of Office Building in Central San Diego to Local Biotech Company for $8.55 Million

07 May 2020

6405 Mira Mesa

Get in Touch

Cole Mortland

Photo of cole-mortland

San Diego – CBRE announced the sale of an office building in Sorrento Mesa, San Diego to local biotech company BPS Bioscience for $8.55 million.

CBRE’s Matt Pourcho, Anthony DeLorenzo, Doug Mack, Bryan Johnson and Scott Kincaid represented the seller, Vancouver-based construction company Ledcor Group. The buyer was represented by an outside firm.

Located at 6405 Mira Mesa Boulevard in the Central San Diego submarket, the 37,991 square-foot, two-story building was originally built in 1990. The buyer intends to occupy most of the building, while leasing back a portion of the building to the seller.

“Now is the time for brokers to be creative with sales in the marketplace,” said Pourcho. “The partial leaseback really helped maximize value for the seller by allowing them to continue to occupy the space until another tenant is found. We were able to find a great match between buyer and seller by aggressively targeting owner-users in our marketing efforts.”

He added, “The submarket of Sorrento Mesa appeals to a wide variety of owners and tenants given the proximity to housing, amenities and other prominent, large corporations who are expanding in the area,” said Pourcho.

The building fronts Mira Mesa Boulevard, Sorrento Mesa’s most active thoroughfare that connects to San Diego’s two largest freeways, I-805 and I-15. An MTS Transit bus stop is in front of the building, providing quick access to the Sorrento Valley Coaster Station.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.