Tenants Ink 100,983SF at Pacific Plaza

San Diego

Two lease renewals totaling 100,983 square feet have been inked at Pacific Plaza At Torrey Hills in the Del Mar Heights submarket of San Diego. Pacific Plaza is one of Northern San Diego’s premier office campuses comprised of three class-A office buildings, totaling approximately 220,000 square feet, situated on a heavily landscaped bluff just east of Interstate 5. “The Del Mar Heights submarket continues to see high leasing activity and remain a place where businesses want to be,” says Eric Northbrook of Cushman & Wakefield Inc. “Pacific Plaza At Torrey Hills has the perfect combination of quality space, location, workforce and views.” In each of the following transactions, Northbrook, and Christopher High of C&W represented the lessor, TREA Pacific Plaza LLC. Qualcomm Inc. signed a lease renewal for 86,331 square feet of office space in Pacific Plaza At Torrey Hills at 10945 Vista Sorrento Pkwy. The tenant occupies the entire building. The lessee was represented by Cassidy Turley BRE Commercial. Cisco Systems Inc. signed a lease renewal for 14,652 square feet of office space in Pacific Plaza At Torrey Hills at 10935 Vista Sorrento Pkwy., Suite 100. The lessee was represented by Jones Lang LaSalle. Hendricks & Partners reveals the sale of North Park Terrace, located at 3939 Idaho St. in San Diego. The 22-unit apartment property was sold for just north of $2.5 million, with a cap rate of 5.8%. The length of escrow was 75 days. Built in 1959, North Park Terrace is a garden-style apartment community featuring 15 one-bedroom and seven two-bedroom units. The property is located just off University Avenue, near 30th Street, close to the 805 Freeway. The North Park Community Park is located near the property, as are retail, dining, and services. The seller was LV 45 LLC of San Diego. The buyers were B. Gail Bordeaux and Lorri Bordeaux of San Diego, CA. The transaction was negotiated by Chad Bramwell of the San Diego office of Hendricks & Partners on behalf of both the seller and the buyers.