Sorrento Mesa Office Complex Sold For $20.4M

October 15, 2018by debbieheinze

By: Ray Huard

A Sorrento Mesa office complex has been sold for $20.4 million.

The Oberlin three-building campus at 5889, 5893 and 5987 Oberlin Dr. was purchased by Crown Realty & Development of Irvine and its affiliate, CPF Oberlin Associates, LLC.

The property underwent a $6.9 million renovation in 2016.

The seller was Bixby Land Company.

Bob Prendergast, Lynn LaChapelle, Sach Kirpalani and John Morrison of JLL represented Bixby Land Company.

Representing CPF Oberlin Associates were the company’s COO, Kreg Groat, Vice President of Transactions Ann Vera, Senior Acquisitions Manager Mike Vaughan, and Senior Property Manager Nikkie Marion.

“Sorrento Mesa remains one of San Diego’s most desirable office markets due to its central location, strong tenant base and its focus on technology,” Prendergast said. “The Oberlin provided Crown Realty & Development with the opportunity to acquire a modernized and fully repositioned property in a premier location with strong upside potential and an opportunity for stabilization.”

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