CBRE Facilitates Sale of a State of the Art 461000 Square Foot San Diego Headquarters Campus to LBA Properties

CBRE negotiated the sale of 16535 Via Esprillo, a premier Class A corporate headquarters campus located in the Rancho Bernardo submarket of San Diego. LBA Properties (LBA) acquired the 461,000-square-foot office property from a top electronics company.

CBRE's Matt Carlson, Hunter Rowe, Darren Morgan and Erik Bridy advised the seller in the disposition of the seller’s fee-simple interest in the property. CBRE’s Scott Peterson, Dave Milestone and Michael Kolcum arranged the financing. The transaction includes a leaseback component, with the seller leasing certain portions of the building following the sale.

“This transaction represents a rare opportunity for LBA to acquire a generational corporate headquarters asset in an excellent submarket,” said Carlson, executive vice president and co-head of U.S. Office Capital Markets at CBRE. “The overall scale, quality and location of the property make it a great investment, and the leaseback component provides immediate income while allowing for future repositioning and upside.”

Originally designed and developed by the seller as a corporate headquarters facility in 2009, the 11-story office tower features sweeping 360-degree views, LEED Gold certification and a separate six-story parking structure with over 1,500 parking stalls. Situated on 7.85 acres, the campus features a sky terrace, full-service commercial kitchen, conferencing centers, premium fitness facilities, and open-air collaboration areas.

“16535 Via Esprillo is a landmark property that reflects the seller’s legacy of innovation and excellence,” added Rowe, first vice president at CBRE. “We’re proud to have helped facilitate a transaction that aligns with the seller’s and buyer’s strategic goals.”

Rancho Bernardo continues to outperform other San Diego submarkets, driven by strong demand from the technology, defense, and life sciences sectors.