The 7.34-acre site may accommodate up to approximately 640,000 square feet in either mid- or high-rise buildings to accommodate either life science or class A office improvements, allowing an owner to seamlessly pivot its strategy based on tenant demand.
JLL has been retained as the Exclusive Agent for Seller to extend qualified principals the opportunity to acquire a fee simple interest in Sorrento Corporate Center (the “Property”, “Site” or “SCC”), which is presently 100% leased to Qualcomm through October 2021. The Property is strategically located in the heart of the Sorrento Mesa submarket of San Diego, one of the most sought-after real estate submarkets in Southern California due to its central location and diverse mixture of corporate headquarters, new economy technology and life science companies. Sorrento Mesa is truly a live-work-play environment and offers a broad range of retail services, hospitality and amenities to the business community. Completed in 1984, the Property consists of two two-story corporate headquarter / R&D buildings situated on a 7.34-acre site surface parked. Sorrento Corporate Center offers its tenants outstanding accessibility to Interstates 805 and 5 which boasts proximate access to all the area’s major thoroughfares. Sorrento Mesa is also easily accessible to UCSD, the UTC submarket and north coastal San Diego. Qualcomm has occupied these buildings for the past 20 years with an expiration date of October 31, 2021, bringing in a Year 1 Net Operating Income of nearly $3 million. Currently, Qualcomm utilizes this facility for various data related uses as the property can access the underground fiber optic infrastructure that connects various Qualcomm facilities in the immediate area. SCC represents an unparalleled opportunity for investors to own an asset in an irreplaceable location with immediate upside in Sorrento Mesa, one of the west coast’s core technology markets and home to the world’s preeminent 5G research and wireless chip design and life science ecosystems.