SAN DIEGO—CBRE has arranged the sale of a two-building, 311,305-square-foot office campus to Invesco Real Estate and San Diego-based developer Cruzan for $85.5 million. Located at 6420 and 6450 Sequence Drive in the Sorrento Mesa submarket of San Diego, the project is situated on nearly 26 acres with approximately 5.7 acres of developable land.
Louay Alsadek, Justin Parsonnet, Hunter Rowe, Chris Pascale and Mike Hoeck of CBRE represented the seller, a publicly traded company. Invesco Real Estate and Cruzan represented themselves. Mark McGovern and Scott Peterson of CBRE debt & structured finance worked on behalf of Invesco Real Estate and Cruzan to secure a $70 million, four-year, variable rate loan through Cornerstone RE Advisors.
The campus is equipped with secured lobbies, cafeteria, gym, showers, basketball and volleyball courts, as well as several patios located throughout the property that serve as outdoor lounge and dining areas.
Continue Reading for Free
Register and gain access to:
- 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
© 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.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
