Rancho Bernardo Office and R&D Building Sold for $6.8M

31 Aug, 2010, San Diego

The San Diego office of Cushman & Wakefield announces that Kearny Real Estate Company, LLC, a Los Angeles-based partnership of real estate professionals, in partnership with TriGate Capital, has purchased a 73,756-square-foot Class A office and R&D building located at 15330 Avenue of Science in the Rancho Bernardo community of San Diego (92128). The purchase price was $6.8 million, or $92 per square foot.

In the transaction, the buyer and the sellers, FAEC Holdings 382771, LLC, and Science Building Partners, LLC, were represented by Mickey Morera and James Duncan of Cushman & Wakefield.

Kearny Real Estate Company purchased the building through a short sale at 68 percent of the loan balance. The company is immediately embarking on a $1.8 million renovation to reposition the asset for lease. For leasing information, contact exclusive leasing agents Mickey Morera and James Duncan with Cushman & Wakefield at 858-452-6500.

The building, located near I-15 on the Avenue of Science loop, offers abundant parking, onsite fitness center, ADA accessible shower and locker facilities, a beautiful two-story main lobby and new 70-seat training theatre.

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