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Deal of the Week - Sale

Cornerstone Court campus sold

Executive Managing Director Rick Reeder, Managing Director Brad Tecca and Brian Driscoll, of DTZ's Capital Market Team, represented the seller in the Deal of the Week.

The deal was the sale of the two-building, 99,600-square-foot office campus in Sorrento Mesa at 5930-5935 Cornerstone Court West, San Diego, for $20.4 million.

The buyer was PCP 63 Owner LLC, c/o BBL Inc., 450 B St., Suite 400, San Diego. Diego Rico is a vice president of the new ownership.

The acquisition was financed with a $14.5 million loan from Bank of America (NYSE: BAC). Ben Schwartz and Gary Goss, also at DTZ, provided financing services.

The seller was Gateway Colorado Properties Inc., with Christine Roseland as the vice president and secretary.

The three-story Class B buildings were constructed in 1987 on 10.16 acres.

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