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Sorrento Biotech Center LLC Acquires Office Building In San Diego For $12M With Chris Duncan As Buyer's Rep

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SOLD
$12,000,000
Hunter Rowe
Matt Pourcho
+ 6

California

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Office67,000 SF
Sold 01/03/2025
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Property Image
SOLD

Sorrento Biotech Center LLC Acquires Office Building In San Diego For $12M With Chris Duncan As Buyer's Rep

6060 Cornerstone Court

See Similar Deals
Office67,000 SF
Sold 01/03/2025
Hunter Rowe
Matt Pourcho
+ 6
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$179
Total Square Footage:67,000 SF
Transaction Type:Sale

A 67,000-square-foot office building located at 6060 Cornerstone Court in San Diego has been sold for $12 million. The property serves as an office asset within the local market, with a price per square foot of $179.

Summary of transaction details:

The buyer, Sorrento Biotech Center LLC, intends to repurpose the office space for life sciences use following the acquisition. CBRE played a key role in arranging this transaction while representing the undisclosed seller.

Players

Michael (Mike) Longo
31 deals$1.8B volume(310) 363-4906
BROKER

Anthony DeLorenzo
CBRE
117 deals$2B volume
BROKER

Barbara (Emmons) Perrier
CBRE
36 deals$1.8B volume(818) 481-2374
BROKER

Matt Pourcho
CBRE
48 deals$650.7M volume
BROKER

Hunter Rowe
CBRE
18 deals$1.1B volume
BROKER

Matthew (Matt) Carlson
CBRE
15 deals$782.5M volume
BROKER

Camille Doan
CBRE
7 deals$458.3M volume(858) 353-1776
BROKER

Alex Hayden
CBRE
2 deals$12M volume(949) 725-8585
BROKER

Chris Duncan
Voit Real Estate Services
2 deals$16.1M volume(858) 458-3307
BROKER

Details

SOLD
IMAGE: Chris Duncan, Alex Hayden, Anthony DeLorenzo, Barbara Perrier, Camille Doan, Hunter Rowe, Matt Pourcho, Matthew Carlson & Michael Longo DATE: 01/03/2025 ADDRESS: 6060 Cornerstone Court MARKET: San Diego ASSET TYPE: Office BUYER: Sorrento Biotech Center LLC BUYER'S REP: Chris Duncan - Voit Real Estate Services (@VoitRealEstate) SELLER'S REP: Alex Hayden, Anthony DeLorenzo (@AnthonyDelorenzo), Barbara Perrier (@BarbPerrier), Camille Doan, Hunter Rowe, Matt Pourcho (@MPourcho), Matthew Carlson & Michael Longo - CBRE (@CBRE) SALE PRICE: $12,000,000 SF: 67,000 ~ PPSF: $179 NOTE: CBRE arranged the $12 million sale of a 67,000-square-foot office building at 6060 Cornerstone Court W in San Diego to Sorrento Biotech Center LLC, which plans to convert it for life sciences use. CBRE represented the undisclosed seller, while Voit Real Estate's Chris Duncan represented the buyer.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
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