{"id":1004099476,"date":"2014-06-26T07:29:52","date_gmt":"2014-06-26T15:29:52","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=272434"},"modified":"2020-04-28T03:58:11","modified_gmt":"2020-04-28T11:58:11","slug":"dra-cypress-pay-41m-for-sorrento-mesa-office-portfolio-nbc-7-seals-move-to-kearny-mesa","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dra-cypress-pay-41m-for-sorrento-mesa-office-portfolio-nbc-7-seals-move-to-kearny-mesa\/","title":{"rendered":"DRA, Cypress Pay $41M for Sorrento Mesa Office Portfolio; NBC 7 Seals Move to Kearny Mesa"},"content":{"rendered":"<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\">By Alex Girda, Associate Editor<\/em><\/p>\n<p class=\"MsoNormal\">In yet another busy week for San Diego office investment market, details emerged of two deals totaling $50 million in value.<\/p>\n<p class=\"MsoNormal\">In the larger of the two transactions, \u00a0DRA Advisors L.L.C. and Cypress Office Properties L. L.C. acquired four properties in the Sorrento Mesa submarket from\u00a0TA Associates Realty for about $41 million. \u00a0The properties total 190,200 square feet of office space, all of it under contract.<\/p>\n<p class=\"MsoNormal\">Included in the portfolio are 5910 Pacific Center (three stories, 50,900 square feet); \u00a0Pacific Heights Plaza (two stories, 51,000 square feet); and 10020 and 9980 Huennekens Street (88,000 square feet). The new owners plan upgrades to such elements as common areas to further boost the assets&#8217; position in the Sorrento Mesa submarket. \u00a0Cassidy Turley Executive Managing Director Rick Reeder and Managing Director Brad Tecca arranged the transaction on behalf of the seller, <a href=\"https:\/\/www.rentv.com\/content\/southerncalifornia\/sandiego\/news\/18530\" target=\"_blank\" rel=\"nofollow\">rentv.com<\/a> reports.<\/p>\n<p class=\"MsoNormal\">Also announced last week was the $9.6 million sale of 9680 Granite Ridge Drive in Kearny Mesa to KNSD Granite Ridge L.L.C., an affiliate of NBC 7 San Diego. <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/06\/9680-Granite-Ridge-nbc-7.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-272435\" title=\"9680 Granite Ridge nbc 7\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/06\/9680-Granite-Ridge-nbc-7.jpg\" alt=\"\" width=\"300\" height=\"231\" \/><\/a>The 52,347-square-foot\u00a0building (pictured at right) will become the station&#8217;s new headquarters in 2016 after it leaves its current home at 225 Broadway in downtown San Diego.<\/p>\n<p class=\"MsoNormal\">The \u00a0building will provide studio and administrative facilities for the station, which will occupy the space after improvements are complete, according to a statement. Colliers International arranged the acquisition for the buyer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In what was yet another good week for San Diego&rsquo;s office market, a large portfolio deal was completed by a partnership between DRA Advisors LLC and Cypress Office Properties LLC, while local news outlet NBC 7 San Diego also acquired an office asset. The two deals were worth a combined $50 million, greatly boosting the profile of the local commercial real estate market. The transaction was arranged by Cassidy Turley Executive Managing Editor Rick Reeder and Managing Director Brad Tecca on behalf of the seller.<\/p>\n","protected":false},"author":41,"featured_media":1004507332,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1608],"tags":[1815],"class_list":["post-1004099476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-san-diego","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>DRA, Cypress Pay $41M for Sorrento Mesa Office Portfolio; NBC 7 Seals Move to Kearny Mesa - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dra-cypress-pay-41m-for-sorrento-mesa-office-portfolio-nbc-7-seals-move-to-kearny-mesa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DRA, Cypress Pay $41M for Sorrento Mesa Office Portfolio; NBC 7 Seals Move to Kearny Mesa\" \/>\n<meta property=\"og:description\" content=\"In what was yet another good week for San Diego&rsquo;s office market, a large portfolio deal was completed by a partnership between DRA Advisors LLC and Cypress Office Properties LLC, while local news outlet NBC 7 San Diego also acquired an office asset. The two deals were worth a combined $50 million, greatly boosting the profile of the local commercial real estate market. The transaction was arranged by Cassidy Turley Executive Managing Editor Rick Reeder and Managing Director Brad Tecca on behalf of the seller.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dra-cypress-pay-41m-for-sorrento-mesa-office-portfolio-nbc-7-seals-move-to-kearny-mesa\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-06-26T15:29:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-28T11:58:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/9680-Granite-Ridge-nbc-7.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-cypress-pay-41m-for-sorrento-mesa-office-portfolio-nbc-7-seals-move-to-kearny-mesa\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-cypress-pay-41m-for-sorrento-mesa-office-portfolio-nbc-7-seals-move-to-kearny-mesa\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"DRA, Cypress Pay $41M for Sorrento Mesa Office Portfolio; 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