New Tenant Coming to The Oberlin in San Diego
- May 05, 2017
By Razvan Cimpean
Bixby Land Co., through CBRE’s Mike Hoeck and Ryan Egli, negotiated a new lease at The Oberlin, a three-building, 62,434-square-foot creative office complex in San Diego. Verimatrix, a specialist in revenue security for digital TV services, will occupy 21,200 square feet in a two-story building at 5897 Oberlin Drive. David Marino of Hughes Marino represented the tenant.
According to Yardi Matrix data, Bixby acquired the property in 2014 from EverWest Real Estate Partners for $9.2 million. The new owners signed an $11.4 million loan with JPMorgan Chase and started a renovation process that included major upgrades to the building elevations and lobbies, new roofs and new window glazing. Additionally, the interiors were completely redone.
“Our strategy was to deliver a dynamic, inviting office campus setting with the flexibility to accommodate multi-tenant users in a single building or a single user for one or more buildings,” Aaron Hill, Bixby executive vice president & COO, said in prepared remarks.
Last month, Bixby completed the sale of Habitat, a 262,463-square-foot Class A office building in Irvine, Calif.
Image courtesy of Bixby Land Company