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Jones Lang LaSalle has been retained as the Exclusive Agent for Seller to extend qualified principals the opportunity to acquire a fee simple interest in Alta Sorrento (the “Property”). Located at 9444 Waples Street in San Diego, California, the 4-story Property contains a total of 88,380 square feet.
The Property is strategically located in the heart of the Sorrento Mesa submarket of North Cities San Diego, one of the most sought-after real estate submarkets in Southern California due to its central location, expansive Life Sciences market, highly diverse corporate headquarters and emerging tech companies.
Completed in 1986, Alta Sorrento offers investors the opportunity to reposition the project from a traditional office building into a Life Sciences facility. The Property is occupied by conventional office tenants with short term leases. Alta Sorrento’s base building infrastructure allows the investor the opportunity to unleash its potential as a Life Sciences building, ensuring strong occupancy at elevated rental rates well into the future. San Diego ranks in the nation’s top three Life Sciences markets with record venture capital funding in the sector of over $3.7 billion across 49 separate raises during 2020.
- Exceptional life sciences opportunity
- Core life sciences location
- Efficient building design
- Severely supply constrained market
- Record setting VC funding ($5 billion) in San Diego
- Explosive life sciences demand