SAN DIEGO—Buchanan Street Partners has acquired Cornerstone Heights Corporate Center, a two-building office complex located at 5959 and 6059 Cornerstone Court West in Sorrento Mesa, a major technology-hub neighborhood in San Diego. The $23.1 million acquisition reflects Buchanan Street's ongoing investment strategy in the West, where the Newport Beach-based investor has been an active buyer in value-add and core-plus office properties.

“This investment furthers our portfolio growth with a stabilized, high quality office building in an established market that is in high demand by technology companies,” said Tim Ballard, president of Buchanan Street Partners.

The firm acquired the 98,000-square-foot office complex in an all-cash deal from a partnership between Lincoln Property Company and Artemis Real Estate Partners. The project is 91% leased and benefits from a recent $4.5 million renovation that included the addition of collaborative workspaces, contemporary kitchens and meeting areas, and exposed high ceilings to the building.