Limar Realty Corp sold the four-building, 114,497-sf Sorrento Pines Park to Westcore Sorrento Pines LLC. Westcore Industrial Properties, headed by CEO Marc Brutten, is the managing member of the partnership.
The 7.9-acre property, built-out in 1979, is located in the 4100 block of Sorrento Valley Boulevard, and is fully occupied. Tenants include Qualcomm, U.S. Filter and Acon Laboratories Inc.
The acquisition was financed through a $100-million revolving credit agreement with Prudential Securities Credit Corp. signed in September. Phil Monroe and Adam Edwards of Burnham Real Estate Services represented Westcore. Limar Realty Corp. was represented in-house.
Other San Diego properties owned by Westcore that have been financed under the revolving line include five separate business parks totaling approximately 537,345 sf. They acquisitions were made last fall.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
