BioMed Realty Acquires Office Property In Sorrento Mesa From La Jolla Management Company For $115M
9940 Barnes Canyon Rd, San Diego, California 92121, United States
$115,000,000
$822/SF
Building Size
139,807 SF
Asset Type
Office
Closing
Dec 21, 2021
AI
The sale of an office property in Sorrento Mesa has been completed for a price of $115,000,000. The property, located at 9940-9950 Barnes Canyon Road, spans across 139,807 square feet, resulting in a price per square foot of $822. The transaction took place on December 21, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $115,000,000
- Address: 9940-9950 Barnes Canyon Road
- Market: Sorrento Mesa
- Buyer: BioMed Realty - Ryan Anderson
- Seller: La Jolla Management Company
- Brokers: Nick Psyllos & Adam Lasoff - JLL
- Square Footage: 139,807
- Price Per Square Foot: $822
- Date: 12/21/2021
Nick Psyllos and Adam Lasoff from JLL represented the buyer, BioMed Realty, in this transaction.
Players
San Diego Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93