Investor

Sorrento Mesa offices built in 1982 sold to local private investor for $5.25 million

Real Estate San Diego
5752 Oberlin Drive. Photo credit: Courtesy of CBRE

A commercial real estate firm has arranged the sale of a 17,238 square foot office building in Sorrento Mesa to a private investor for $5.25 million, officials said.

Matt Pourcho, Anthony DeLorenzo, Matt Harris and Scott Kincaid of CBRE represented the seller, a San Diego-based private investor. The anonymous buyer was represented by CBRE’s Ted Jacobs, Hunter Rowe and Matt Carlson.

Located at 5752 Oberlin Drive, the two-story office building was built in 1982 and sits on 0.95 acres. The previous owners have upgraded the interior of the building and the exterior features wood framed walls, glass doors and windows. The property includes 49 paved parking spaces and standard landscaping.

Pourcho described the buyer as “a wealthy local investor who intends to occupy a small portion of the building.” Sellers have received nine offers on the property.

Located off Mira Mesa Boulevard, the building sits in the middle of San Diego’s fastest growing hub for technology and life sciences companies. Over the past several years, Sorrento Mesa has seen significant growth, with Oberlin housing some of the life sciences conversions and repositionings in the market.

According CBRE Research.

In the second quarter of 2022, central San Diego office vacancies fell to 10.4%, with asking rental rates of $3.37.