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Deal of the Week - Sale

Sorrento Mesa portfolio sold

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Rick Reeder and Brad Tecca, of Cassidy Turley's San Diego office, represented the sellers and buyer in the Deal of the Week.

The deal was the sale of a four-building, approximately 190,154-square-foot office portfolio in Sorrento Mesa for $41.15 million, cash.

The transaction also included two vacant lots totaling 2.43 acres at Huennekens Street and Waples Court.

The buyer was G&I VII Sorrento LP, a partnership of New York-based DRA Advisors LLC and San Diego-based Cypress Office Properties LLC.

The sellers were The Realty Associates Fund VII L.P. and The Realty Associates Fund VIII L.P., c/o TA Associates Realty.

The fully leased portfolio consisted of:

* 5910 Pacific Center, a three-story, 50,882-square-foot building on 2.47 acres at 5910 Pacific Center Blvd.;

* Pacific Heights Plaza, a two-story, 51,261-square-foot building on 2.82 acres at 9985 Pacific Heights Blvd., and;

* Sorrento Heights, a two-building campus totaling 88,011 square feet on 5.2 acres at 10020 and 9980 Huennekens St.

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