California Office Asset Changes Hands for $17M

Graymark Capital and an institutional partner purchased the 92,477-square-foot, 45 percent leased, two-story property located in Sorrento Mesa, Calif.
10455 Pacific Center Court. Image via Google Maps
10455 Pacific Center Court. Image via Google Maps

HFF has facilitated the sale of a 92,477-square-foot office property located in the Sorrento Mesa submarket of San Diego. A partnership between Graymark Capital and an institutional partner purchased the asset for $16.5 million.

(In February, Graymark Capital paid $45.3 million for a 78,667-square-foot Class B office building fully leased to Apple in Sunnyvale, Calif.)

Located at 10455 Pacific Center Court, on a 7.7-acre canyon-edge lot, the two-story property features 13.5- to 16.9-foot slab-to-slab heights, abundant window lines, functional floor plates and high-bay loading docks with roll-up door access. The asset is within 3 miles of Interstate 805 and within 16 miles of downtown San Diego.

Senior Managing Director Nick Psyllos and Senior Associate Kara Mathis led the HFF investment advisory team that represented the seller in the transaction. The property was 45 percent leased at the time of the sale.