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Sorrento Pines Trades Hands for $10.8M

SAN DIEGO-Cruzan / Monroe, through its affiliate Sorrento Pines LLC, acquires the 115,000-sf business park from Westcore Industrial Properties. Located at 4108-4122 Sorrento Valley Blvd., the project is currently 50% leased.

By Erin Cassin | Updated on June 16, 2003

SAN DIEGO-Cruzan / Monroe has tucked another San Diego asset into its portfolio, as it has acquired the Sorrento Pines business park from Westcore Industrial Properties for $10.8 million.

Constructed in the 1980s, the project is comprised of four facilities located at 4108-4122 Sorrento Valley Blvd. in the Sorrento Valley area of San Diego. Encompassing a total of 115,000 sf, the property is currently 50% leased to ACON and Pall Corp. Cruzan / Monroe officials say they will market the remaining space while they wrap up a renovation of the common areas and building interiors. Principal Philip Monroe says they anticipate the property to lease up quickly, as the industrial vacancy rate in the Sorrento Valley market stands at just 5.4%.

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