Sterling Bay West and Harrison Street Real Estate Capital Close Deal on Sorrento Mesa Portfolio from City Office REIT
Posted on 12/07/2021
On September 8, 2021, Sterling Bay West and Harrison Street Real Estate Capital agreed to acquire an office and life sciences portfolio in San Diego’s Sorrento Mesa submarket. The deal closed on December 2, 2021. The seller is City Office REIT, Inc. The Sorrento Mesa Portfolio sold for a gross sales price of US$ 576 million.
The buildings are at 5910 Pacific Center Boulevard and 9985 Pacific Heights Boulevard, as well as 10390-10445 Pacific Center Court. The portfolio comprises four life sciences lab buildings, an empty building ready for office and lab space, two office buildings totaling 420,229 square feet, and five acres of excess land.
Sterling Bay West is the U.S. west coast unit of Chicago developer Sterling Bay.