San Diego CA— CBRE announced that a private investor acquired Cornerstone Office Center from MIG Real Estate for $9.5 million. CBRE’s Louay Alsadek and Hunter Rowe represented the seller, MIG Real Estate, a real estate investment firm based in Newport Beach.
Located at 6020 Cornerstone Court West in the Sorrento Mesa submarket of San Diego, Cornerstone Office Center was 100 percent leased at the time of sale. The three-story, 43,210-square-foot Class B office building is anchored by technology companies including Motive Interactive, Microchip Technologies and Rohm Semiconductor.
“At 100 percent leased with no major tenant rollover, Cornerstone Office Center provides the buyer with stable cash flow and the opportunity to capitalize on the improving market fundamentals of Sorrento Mesa as the submarket continues to attract life science and technology companies,” Alsadek said.
Scott Kincaid and Nick Bonner of CBRE were the leasing experts for the transaction.