JUST SOLD
5785 Oberlin Drive
CBRE’s Investment Properties–California/Arizona/Nevada team is pleased to announce the sale of 5785 Oberlin Drive in San Diego, California, for $20.25 million ($322 PSF). The 62,823-square-foot, three-story property was redeveloped into a life science use in 2020. It features balconies, barbecue area, showers, lockers and 200 parking stalls. The property is one mile from I-805, a major freeway that connects Sorrento Mesa to the rest of San Diego County.
Matt Pourcho, Louay Alsadek, Hunter Rowe and Anthony DeLorenzo from CBRE’s Capital Markets along with CBRE’s local market leasing experts Scott Kincaid and Matt Nickels represented the seller, Los Angeles based real estate firm Alvarez & Marsal Capital Real Estate , in the transaction.
“The rapid growth of the San Diego life science market, coupled with limited supply, has paved the way for the conversion of traditional office buildings into life science uses,” said Pourcho. “This asset will provide future life science tenants with a modern, Class A space in one of San Diego’s top life science submarkets.”
He added, “Our CBRE team brokered the previous sale of this asset in 2019 and was selected again to list this project and find a new buyer given the increase in life science momentum surrounding the property.”
Our team, built with a market-leading database and led by an integrated team of experts across nine Western U.S. markets, provides investors with an unrivaled advantage. Our clients have access to a best-in-class marketing platform, local market expertise in any U.S. market, and a dedicated team of financial analysis, due diligence and transaction professionals at their discretion.
To date, we continue to observe strong transaction activities despite COVID headwinds. If you would like us to advise you on your next acquisition, please give us a call.
Don’t miss out on the next investment opportunity.
Matt Pourcho
Lic. 01705763
+1 858 546 4622
matt.pourcho@cbre.com
Anthony DeLorenzo
Lic. 01706686
+1 949 725 8425
anthony.delorenzo@cbre.com
Matt Harris
Lic. 02085087
T +1 858 546 2647
matthew.harris@cbre.com
Gary Stache
Lic. 00773736
+1 949 725 8532
gary.stache@cbre.com
Bryan Johnson
Lic. 02018612
+1 949 809 3762
bryan.johnson@cbre.com
Doug Mack
Lic. 01804056
+1 949 725 8571
doug.mack@cbre.com
Specializing in the sale of Office, Medical Office, and Industrial properties in California, Arizona and Nevada.
IN 2020, OUR TEAM SOLD 77 PROPERTIES TOTALING OVER $1.1 BILLION.
Address: 3501 Jamboree Suite 100, Newport Beach California 92660
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