St. Bernard Software, which specializes in security solutions that protect against data loss, system threats and Internet abuse, has inked a five-year lease for 54,579 sf in the facility. The transaction is valued at $5.4 million.

Glenn Friedrich and Russ Sande of The Sande Co. acted on behalf of St. Bernard Software. The Shidler Group was represented by Jay Alexander and Ryan Grove of Colliers International.

A joint venture between The Shidler Group and The Praedium Group LLC acquired Carmel Corporate Plaza for $11 million in the fall of last year. Located at 15015 Avenue of Science in the Carmel Mountain area of San Diego, the property was constructed and sold in 1998 for $14 million. Previous owner Hibiscus LLC made the decision to sell the building for only $11 million because its sole tenant, Cadence Design Systems, had announced that it would relocate its regional headquarters out of the property in June of 2003. At the time of the sale, The Shidler Group partner Matt Root said he expected the value of Carmel Corporate Plaza to grow after Cadence vacates, since the company is currently paying a rent that is below market.