{"id":1004146994,"date":"2016-06-29T06:03:50","date_gmt":"2016-06-29T14:03:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004146994"},"modified":"2022-03-05T04:57:44","modified_gmt":"2022-03-05T12:57:44","slug":"blt-enterprises-completes-yet-another-san-diego-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blt-enterprises-completes-yet-another-san-diego-acquisition\/","title":{"rendered":"BLT Enterprises Completes Yet Another San Diego Acquisition"},"content":{"rendered":"<p>By Alex Girda<\/p>\n<p><strong>San Diego<\/strong>\u2013 A two-building <a href=\"https:\/\/www.commercialsearch.com\/news\/office\/\" target=\"_blank\" rel=\"noopener\">office and R&amp;D<\/a> campus in the Sorrento Mesa submarket is <a href=\"https:\/\/blt-enterprises.com\/\" rel=\"nofollow noopener\" target=\"_blank\">BLT Enterprises<\/a>\u2019 latest acquisition in the San Diego metro. The commercial real estate investment company paid $12.6 million for Sorrento Tech II, in a deal brokered by <a href=\"https:\/\/www.madisonpartners.net\/\" rel=\"nofollow noopener\" target=\"_blank\">Madison Partners<\/a>\u2019 Ron Jacobson on its behalf. The seller worked with <a href=\"https:\/\/www.ngkf.com\/\" rel=\"nofollow noopener\" target=\"_blank\">NGKF Capital Markets<\/a> representatives Sean Fulp and Brunson Howard.<\/p>\n<div id=\"attachment_1004146997\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Sorrento-Tech-II.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004146997\" data-attachment-id=\"1004146997\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blt-enterprises-completes-yet-another-san-diego-acquisition\/sorrento-tech-ii\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Sorrento-Tech-II.jpg\" data-orig-size=\"1573,913\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Sorrento Tech II\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Sorrento Tech II&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Sorrento-Tech-II.jpg?w=1024\" class=\"wp-image-1004146997 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Sorrento-Tech-II.jpg\" alt=\"Sorrento Tech II\" width=\"300\" height=\"174\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Sorrento-Tech-II.jpg 1573w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Sorrento-Tech-II.jpg?resize=300,174 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Sorrento-Tech-II.jpg?resize=768,446 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Sorrento-Tech-II.jpg?resize=1024,594 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Sorrento-Tech-II.jpg?resize=1536,892 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004146997\" class=\"wp-caption-text\">Sorrento Tech II<\/p><\/div>\n<p>The two buildings that comprise Sorrento Tech II are located at 10140 and 10180 Barnes Canyon Road in San Diego. Offering 63,333 square feet of space, the property currently has two tenants that occupy roughly 87 percent of the available space. The new owner\u2019s challenge is to find a tenant for the remaining 8,000 square feet that were vacant at the time of the transaction.<\/p>\n<p>The entire Sorrento Mesa submarket is populated by tech-focused companies including Sony, Verizon, and Qualcomm. The asset\u2019s placement also offers easy access to the nearby I-805 and the Westfield UTC.<\/p>\n<p>BLT is focused on acquiring other properties in the area, as the investor is already in escrow on another San Diego asset. The Santa Monica-based entity has been active since 1984, and in the three decades since its formation has been involved with more than $2 billion worth of assets.<\/p>\n<p><em>Image courtesy of BLT Enterprises<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Sorrento Mesa submarket has become increasingly tech-centric over the past few years. <\/p>\n","protected":false},"author":41,"featured_media":1004146997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21747,1608,15],"tags":[],"class_list":["post-1004146994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-office","category-san-diego","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BLT Enterprises Completes Yet Another San Diego Acquisition - 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