RANCHO BERNARDO, CA—Drawbridge Realty Trust has acquired two buildings in the Discovery Corporate Center, located at 11020 Via Frontera Drive and at 16465 Via Esprillo in Rancho Bernardo, for $53 million. The two properties, comprising 137,438 square feet, are leased to Broadcom Corporation. The seller was Menlo Equities, LLC, and there were no brokers involved in the off market transaction.
"These quality institutional buildings are an excellent investment for Drawbridge Realty Trust in one of Southern California's premier submarkets,” said Mark Whiting, CEO of Drawbridge. “The buildings are ideally located for large corporate users.”
Drawbridge Realty Trust also acquired a vacant life sciences building in North San Diego County's Sorrento Mesa area, located at 6550 Nancy Ridge Drive. The building is 24,117 square feet and was acquired for approximately $2 million. Drawbridge has plans to redevelop and upgrade the building to attract a corporate user.
In addition to these properties, Drawbridge Realty Trust recently acquired 3201 Scott Boulevard in Santa Clara, California, as part of the company's expansion efforts. The property was acquired for just under $18 million. The 66,106 square foot two-story building is leased to Advantest America. The seller was also Menlo Equities, LLC.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
