SAN DIEGO—Lionstone Investments, on behalf of an institutional client has acquired the iconic San Diego Tech Center, a technology and creative office campus in the Sorrento Mesa submarket of San Diego.

The nine-building trophy project, which is positioned along Scranton and Barnes Canyon roads in the Sorrento Mesa technology hub, totals 655,643 square feet and includes entitlements for up to an additional 1.2 million square feet of new development. The campus is located immediately adjacent to the corporate headquarters of Qualcomm, Sorrento Mesa's largest tenant with more than 4.6 million square feet of office space in the area.

Lionstone's operating partner for this acquisition is Locale Advisors. “This is a very exciting project for us as the San Diego Tech Center was way ahead of its time and has been the most visionary and successful technology campus in the county since its construction in the mid-1980s,” said Phil Monroe, principal with Locale Advisors.
“San Diego Tech Center has an irreplaceable seven-acre park and lifestyle amenities create a unique employee experience,” Monroe said. “We look forward to taking the infrastructure that already exists at San Diego Tech Center to an exciting new level to ensure it remains the most preferred technology/creative campus in San Diego County, providing companies unequaled opportunity for tenant attraction and retention.”