CBRE Facilitates a Corporate Disposition in Sorrento Mesa for $12.05 Million

CBRE arranged the $12.05 million sale ($180 per sq. ft.) of 6060 Cornerstone Court West, a 67,099-sq.-ft.-office building in San Diego to a local private investor, Sorrento Biotech Center LLC, with plans to convert the property for life sciences use.

CBRE's Matt Carlson, Hunter Rowe, Camille Doan, Alex Hayden, Barbara Perrier, Mike Longo, Matt Pourcho and Anthony DeLorenzo represented the corporate seller in the transaction.

“Significant entrepreneurial capital continues to flow into the market, focusing on mid-market lab investments and repurposing underutilized assets,” said Carlson, co-head of U.S. office capital markets at CBRE.

According to CBRE Research, the third quarter of this year marked the third consecutive quarter of over $1 billion in new investments for the life sciences sector.

The asset offers a distinguished corporate presence. It is strategically situated on 2.96 acres at a prominent intersection in Sorrento Mesa, San Diego’s premier hub for growth and innovation. Its prime corner location is enhanced by proximity to universities, renowned research institutions and San Diego’s life sciences epicenter.

Built in 1985, the property has been exclusively owned and occupied by a corporate owner. This transaction marks the first time the asset has been for sale to the broader real estate market.

Chris Duncan of Voit Real Estate represented the buyer in the transaction.