Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Year Built 1984
Building Area

Property Description

Jones Lang LaSalle has been retained as the Exclusive Agent for Seller to extend qualified principals the opportunity to acquire a fee simple interest (subject to existing debt) in Sorrento Corporate Center (the “Property”). Located at 9940 & 9950 Barnes Canyon Road in San Diego, California, the two-building, 143,999 square foot project is 100% leased to Qualcomm with over 10 years of remaining lease term with 3% annual escalations, thereby providing solid investment returns over the lease term. Qualcomm owns and leases over four million square feet in Sorrento Mesa, where the Property is located.


Completed in 1984, the Property is situated on a 7.34-acre site and offers Qualcomm outstanding accessibility to Interstates 805 and 5 which boasts excellent 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 since the 1980s and recently renewed its’ lease through October 31, 2031. Qualcomm currently utilizes a portion the facility for data center infrastructure as the Property has a direct connection to the underground fiber optic infrastructure that connects various Qualcomm facilities in the immediate area.


The combination of strong in-place cash flow from an investment grade tenant, a clear “path to dirt” with no renewal options, and an irreplaceable location within one of the West Coast’s core technology and life science markets provides an exceptional investment opportunity.

Investment Highlights

  • 100% leased for more than 10 years to Qualcomm, an investment grade company with $150+ billion market cap
  • Covered land / life sciences development opportunity in A+ location
  • Strong rent across Sorrento Mesa’s top three product types
  • Qualcomm continues to make a significant commitment to San Diego and Sorrento Mesa
  • Located in San Diego’s fastest growing life sciences submarket, Sorrento Mesa
  • Strong tech fundamentals are gaining momentum
  • Access to underground fiber optic providers
  • Ample liquidity for San Diego tech & life sciences companies
  • Amenity-oriented location with strong demographic profile
Last Updated Date: 30 Mar 2021
Nick Psyllos
Nick Psyllos
Managing Director, Capital Markets
License details
CA - 00788060
Adam Lasoff
Adam Lasoff
Managing Director, Capital Markets

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+13129406848
Last Updated Date: 30 Mar 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.