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Westcore Sandrock property in Kearny Mesa sold

The five-building, 102,200-square-foot industrial/research and development complex in Kearny Mesa -- at 8581-8601 Aero Drive, on the southwest corner of Aero and Sandrock Road in San Diego 92123 -- has been sold for $17.95 million.

The buyer was PR III/Broadstone Kearny Mesa LLC, with Broadstone Kearny Mesa Alliance LLC as its member. Patrick W. Dukes is the member of Broadstone, care of Locke Lord LLP, 2200 Ross Ave., Suite 2200, Dallas, Texas 75291; attention: Toni Wienstein.

The acquisition was financed through a $61,352,000 credit with Wells Fargo Bank, care of Commercial Real EstateóInstitutional Metro Markets Group (AU 63650), 1800 Century Park East, 12th Floor, Los Angeles, CA 90067.

The sellers of the property (assessor's parcel 421-050-07, 08 and 10) were Westcore Sandrock LLC (80 percent) and New COIP One LLC (20 percent). MRB Manager LLC is the manager of both sellers, and Marc Brutten is the sole member and manager of MRB.

The properties are 8581 Aero (42,844 square feet), 8593 (11,616) and 8601 (49,426). In January 2005, Westcore the property for $12.75 million.

In early 2009, San Diego Blood Bank renewed its lease on 11,678 square feet at 8593 Aero for nine months at $173,944. In late 2009, Gamma Scientific signed a three-year, $514,800 lease renewal for 14,300 square feet at 8541 Aero for its corporate headquarters.

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