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Deal of the Week - Lease

San Diego HQ lease

Rusty Williams, Chris Roth and Kyle Carruthers, of Lee & Associates–North San Diego County, represented the lessee in the Deal of the Week.

The lessor was represented by Jones Lang LaSalle (NYSE: JLL).

The deal was a lease by Stephen Gould Corporation of 10,494 square feet of office space at 10905 Technology Place San Diego 92127, from CBM Global Inc.

The space, leased for 123 months at $1,933,256, will be the San Diego headquarters for an organization specializing in innovative design for industrial packaging.

The space is in One Technology Place, a 10-building, 152,730-square-foot campus at 1905-1949 Technology Place.

Last December, Technology Place Office Partners, a unit of Palo Alto-based Menlo Equities Associates, acquired the Rancho Bernardo property for $22 million.

The seller was AGP One Tech LP, a joint venture of San Diego-based Parallel Capital Partners and Angelo Gordon & Co.

Built in 1985, the campus recently underwent a $3 million renovation, converting from industrial to creative office space with open, interactive areas instead of traditional cubicles, said Matt Root, CEO of Parallel Capital.

“Our goal was to provide high-quality, functional space for technology-oriented companies,” Root said. “With this in mind, we completed significant interior and exterior improvements to all office and common areas, as well as installed improved signage and new landscaping.”

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