Search
 

Shidler Group Sells Sorrento Tech I

SORRENTO MESA, CA-The San Diego firm gets more than $6 million for the 30,000-sf R&D building. Information Systems Laboratories uses the space for its corporate headquarters.

By Daniel D. Williams | Updated on April 11, 2005

SORRENTO MESA, CA-Investment property remains in demand in San Diego County, particularly in hot R&D pockets such as those found in Sorrento Tech Business Park. Most recently, the Shidler Group of San Diego sold off one of the pieces it owns in the park. In the deal, Shidler sold Sorrento Tech I for $6.1 million to Bixbykibbee LLC, a local investor.”The strength of the San Diego County market–especially in well-positioned markets like Sorrento Mesa–remains a huge draw for both private and institutional investors,” says Ryan Gilbert, associate director with Burnham Real Estate. Gilbert and Burnham Real Estate’s Lynn LaChapelle and Bob Prendergast represented Shidler in the deal. Bob Griffith of Grubb & Ellis represented the buyer, Bixbykibbee LLC.The R&D property counts 30,097 sf and serves as the corporate headquarters for Information Systems Laboratories, which provides information to the defense and intelligence sectors. The company ranked No. 383 on the 2004 Deloitte Technology Fast 500, a ranking of the 500 fastest growing high technology companies in North America. The property was one of three buildings in Sorrento Tech Business Park, which was acquired when the Shidler Group purchased a 15-building portfolio of R&D buildings in Sorrento Mesa in August 2004.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.