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Sorrento Mesa Leads as a Flex-Industrial Market

An attractive location for tenants seeking convenience for their employees and proximity to research institutions and companies, Sorrento Mesa shines as a flex-industrial submarket, Goldman's Joseph Sumberg tells GlobeSt.com.

By Carrie Rossenfeld | Updated on December 13, 2017

Joseph Sumberg Sumberg: “Flex-industrial product appeals to a range of users, including life sciences and technology companies, which are prominent in the submarket and can utilize flex industrial space for a variety of business functions.”

SAN DIEGO—An attractive location for tenants seeking convenience for their employees and proximity to research institutions and companies, Sorrento Mesa shines as a flex-industrial submarket, Goldman Sachs Asset Management Private Real Estate co-head Joseph Sumberg tells GlobeSt.com. As we recently reported, the firm, in a joint venture with Montana Avenue Capital Partners LLC, recently acquired Centerpark Plaza, a 204,000-square-foot, multi-tenant industrial-flex campus in Sorrento Mesa submarket with eight flex industrial buildings and one office building.

Dekel Capital, an L.A.-based real estate merchant bank that specializes in sourcing and placing equity and debt for middle-market commercial real estate developers and investors, placed core-plus JV equity of an undisclosed amount on behalf of Montana. The proceeds were used to acquire and reposition Cernterpark Plaza.

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