Leasing Notes

 

September 10, 2012

September 2, 2013


Hub insurance firm on Morehouse

Leasing Notes are updated twice weekly and are now available in a fully searchable database format at www.sddt.com/databases/leasingnotes/.

Office: Hub International Insurance Services Inc. has leased 6,126 square feet of office space at 5405 Morehouse Drive, Suite 340, San Diego, 92121, from Cruzan/Monroe. The property was leased for 72 months at $850,000.

The lessee was represented by Chris Power, of Cresa Partners. The lessor was represented by Chris High and Tyler Sinks, of Cushman & Wakefield

Earlier this year, the 48,404-square-foot, Class B office building in Sorrento Mesa at 5404 Morehouse and the 37,149-square-foot office building in Governor Park at 5151 Shoreham Place in San Diego were sold for $13.8 million.

The buyers were 5151 Shoreham Place GP LLC and 5405 Morehouse Drive LLC, both headed by Cruzan Monroe Investments LLC.

The Morehouse building was constructed in 1988 on a 1.98-acre lot and was 93.7 percent leased.

Recent leasing at Morehouse includes STEC Inc. in early 2010 with 4,305 square feet for 24 months at $190,000; Scripps Health in late 2009, with 2,540 square feet for 60 months at $260,000; Island Pacific Systems Inc. in mid 2010, with 2,064 square feet for three years at $127,322; and Robert Hines and Dennis Gillaspy, dba Brandon Taylor Designs, in late 2008, with a renewal on 1,290 square feet for two years at $50,000.


Office: Institute for Public Strategies has leased 6,222 square feet of office space at Pepper Tree II in Mission Valley, 2615 Camino Del Rio South, San Diego, 92108, from TacWest Holdings LLC. The property was leased for 60 months at $735,821.

The lessee was represented by Dottie Surdi, of Sperry Van Ness. The lessor was represented by Nick Bonner, of CBRE (NYSE: CBRE).

In fall 2008, The Sanderson Group Inc., a non-profit marketing and communications consulting firm, leased 1,783 square feet for five years at $204,604.


Retail: Jersey Mike's Subs has leased 1,450 square feet of retail space at 32068 Temecula Parkway, Suite B, Temecula, 92592, from Pacific Development Group II. The property was leased for 10 years at $598,414.

The lessee was represented by Michael Burton, Danny Fitzgerald and Pasquale Ioele, of Cassidy Turley San Diego. The lessor was represented by Kay Campbell, of Morris & Campbell.


Industrial: De Woo Kim has leased 1,460 square feet of industrial space at 7290 Engineer Road, Suite B, San Diego, 92111, from SFERS Real Estate Corp. The property, leased for 24 months at $29,539, will be used for general office and warehouse for a photography company.

The lessee was represented by Mike Bench, of Colliers International. The lessor was represented by Sean Williams and Ryan Sparks, of CBRE.

The 7,000-square-foot industrial/warehouse building is in the 210,673-square-foot Kearny Mesa West Business Park.


Industrial: Bomber Climbing Holds has leased 1,000 square feet of industrial space at 1250 Pioneer Way, Suite C, El Cajon, 92020, from McWay Family Trust. The property, leased for 24 months at $18,276, will be used for manufacturing rock climbing holds.

The lessee was represented by Michelle Torres and Erika Brooks, of Pacific Coast Commercial. The lessor was represented by Brooks and Ken Robak, also of Pacific Coast.


Editor's Note: Leasing Notes for publication must contain the names of the lessee and the lessor; address (including street name and number, city and zip code); square footage; length of lease; lease terms such as NNN; financial consideration; proposed use of space (if not evident from name of lessee); and the names of brokers and their firms representing both the lessee and the lessor.


 

September 10, 2012

September 2, 2013


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