Mira Mesa Business Park

Mira Mesa Business Park

Property

  • A three building, 56,701 sf mixed use Office/R&D project with a high level of improvements located in San Diego

Advantages

  • Outstanding location, about a half mile from Interstate 805, with frontage on Mira Mesa Boulevard, a major east-west artery
  • Excellent access and project visibility in the highly desirable sub-market of Sorrento Mesa, located close to Scripps Institute, UC San Diego and La Jolla
  • Rising rental market with rents on a triple net basis in a multi-tenant project with diverse tenant mix with medium term leases
  • Multiple exit strategies, as a leased investment project or a subdivision/condo project or development of a high rise office tower
  • Ample land of over 4 acres and exceptional parking
  • Sorrento Mesa is the home to Qualcomm, one of the largest international wireless companies in the U.S.

Results

  • Explored a higher and better use for the property
  • Enhanced yields by improving bottom line and with leverage
  • Sold to fund buyer who intended to redevelop the site