Deal of the Week

April 3, 2015

April 7, 2015

April 14, 2015


Sorrento Mesa campus on Sequence sold

Louay Alsadek, Justin Parsonnet, Hunter Rowe, Chris Pascale and Mike Hoeck, of CBRE (NYSE: CBG), represented the seller of the Deal of the Week.

The deal was the sale of the two-building, 311,305-square-foot office campus in Sorrento Mesa, at 6420 and 6450 Sequence Drive in San Diego, for $85.5 million.

The buyer was 6420-6450 Sequence Drive LLC, c/o Cruzan Properties-Investments LLC of Del Mar and Invesco Real Estate. Dennis S. Cruzan is the vice president of the new ownership.

The acquisition was financed by a loan of $70 million, four-year, variable rate loan from the Los Angeles County Employees Retirement Association by Mark McGovern and Scott Peterson, of CBRE Debt & Structured Finance through Cornerstone RE Advisors.

The campus was built in 1998 and occupies nearly 26 acres, with approximately 5.7 acres of developable land.


April 3, 2015

April 7, 2015

April 14, 2015