In Sorrento Mesa, a 20.56-acre office asset was recently sold. The property, spanning 371,281 square feet, was acquired by Longfellow Real Estate from PS Business Parks. The deal was facilitated by brokers Lynn LaChapelle, Bob Prendergast, Sach Kirpalani, and Michael Leggett of JLL. The transaction took place on October 28, 2021, and the sale price amounted to $315,400,000, with a price per square foot of $849.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $315,400,000
• Market: Sorrento Mesa
• Acres: 20.56
• Buyer: Longfellow Real Estate
• Seller: PS Business Parks
• Brokers: Lynn LaChapelle, Bob Prendergast, Sach Kirpalani, and Michael Leggett - JLL
• Square Footage: 371,281
• Price Per Square Foot: $849
• Date: October 28, 2021

The involvement of Longfellow Real Estate as the buyer and PS Business Parks as the seller showcases the key players in this transaction. The deal was made possible through the efforts of brokers Lynn LaChapelle, Bob Prendergast, Sach Kirpalani, and Michael Leggett, who represented the parties involved. This sale marks a significant transaction in the Sorrento Mesa market, highlighting the continued activity and value in the local office real estate sector.