Located at 6545 Sequence Dr., the flex facility encompasses 103,000 sf. SDCCU plans to relocate its offices there from its current building at 9985 Pacific Heights Blvd. The company has experienced significant growth over the past 10 years, with its assets climbing from $300 million to more than $1.7 billion.
SDCCU was represented by Rick Reeder of Business Real Estate Brokerage. Jim Hughes, Bryan Geisbauer and Ryan Goforth acted on behalf of the seller, San Diego-based Applied Micro Circuits Corp.
The Sorrento Mesa sale follows on the heels of another recent office transaction in San Diego County, in which an investment partnership snapped up a two-building office project in Carlsbad. Buyer Pacific Realty Advisors LP shelled out $13.1 million for the 97,219-sf complex, which it acquired from I & G Faraday. Known as One Carlsbad Research Center, the property is located at 2382-86 Faraday Ave.
The two recent sales are the latest proof that capital is flowing into the San Diego County office market. Commercial real estate investors continue to seek out office product here, despite the fact that the region is still experiencing negative net absorption and rising vacancy rates.
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