{"id":1004231702,"date":"2018-05-24T03:43:27","date_gmt":"2018-05-24T11:43:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004231702"},"modified":"2022-12-08T14:07:12","modified_gmt":"2022-12-08T22:07:12","slug":"san-diego-office-property-trades-for-18m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-diego-office-property-trades-for-18m\/","title":{"rendered":"San Diego Office Property Trades for $18M"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004231708\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/12230_worldtrade__main-1.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004231708\" data-attachment-id=\"1004231708\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/san-diego-office-property-trades-for-18m\/12230_worldtrade__main-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/12230_worldtrade__main-1.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;4.5&quot;,&quot;credit&quot;:&quot;Joel Zwink&quot;,&quot;camera&quot;:&quot;FC6310&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1504353273&quot;,&quot;copyright&quot;:&quot;\\u00a9 Joel Zwink\/Zwink Photography&quot;,&quot;focal_length&quot;:&quot;8.8&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.0008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"12230_worldtrade__main (1)\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;12230 World Trade Drive, &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/12230_worldtrade__main-1.jpg?w=800\" class=\"wp-image-1004231708 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/12230_worldtrade__main-1.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/12230_worldtrade__main-1.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/12230_worldtrade__main-1.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/12230_worldtrade__main-1.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004231708\" class=\"wp-caption-text\">12230 World Trade Drive<\/p><\/div>\n<p>Cal-Sorrento LTD has acquired a multi-tenant office building in the Rancho Bernardo master-planned community of San Diego, for $17.9 million. Cushman &amp; Wakefield Capital Markets represented the seller, Palisades Property Trust, in its disposition of the property.<\/p>\n<p>Constructed in 1989 and located at 12230 World Trade Drive, the two-story, 61,227-square-foot asset is situated on a 4.9-acre lot. The property underwent renovations in 2016, which included upgrades to the lobbies, common areas and entryways.<\/p>\n<p><em>&#8220;(The building) is a well-maintained, institutional quality asset positioned along the Southern California coast, located in close proximity to numerous amenities, including two large retail centers and housing,&#8221;<\/em> said Cushman &amp; Wakefield Vice Chairman Jeffrey Cole, in a prepared statement. <em>&#8220;The property is 100 percent leased to four tenants, providing secure tenancies and strong in-place revenue. The tenancy is characterized by primarily technology and healthcare focused companies.&#8221;<\/em><\/p>\n<p>The Cushman &amp; Wakefield team arranging the sale included Cole, Executive Managing Director Rick Reeder, Director Ed Hernandez, Executive Director Brad Tecca and Associate Nico Napolitano.<\/p>\n<p>Earlier this year,\u00a0Cushman &amp; Wakefield Capital Markets also arranged the <a href=\"https:\/\/www.commercialsearch.com\/news\/irvine-buys-san-diego-office-for-105m\/\">$105 million sale of Gateway at Torrey Hills<\/a>, a San Diego Class A office campus located just off Interstate 5.<\/p>\n<p><em>Image courtesy of Cushman &amp; Wakefield<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Constructed in 1989, the two-story, 61,227-square-foot building recently underwent renovations, which included upgrades to the lobbies, common areas and entryways.<\/p>\n","protected":false},"author":746,"featured_media":1004231708,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,1608,15],"tags":[32799],"class_list":["post-1004231702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-san-diego","category-west","tag-cushman-wakefield"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. 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