SAN DIEGO — Invesco Real Estate and Cruzan have acquired a 311,305-square-foot office campus in the Sorrento Mesa submarket of San Diego for $85.5 million. The two-building campus is located at 6450 Sequence Drive.
Amenities at the campus include secured lobbies, a cafeteria, gym, showers, basketball and volleyball courts, and several patios that serve as outdoor lounge and dining areas.
Cruzan plans to renovate the campus. Renovations will include a contemporary café, a fully integrated fitness center, an outside amphitheater, and new passive and active spaces.
The buyers represented themselves in this transaction. The seller, a publicly traded company, was represented by CBRE’s Louay Alsadek, Justin Parsonnet, Hunter Rowe, Chris Pascale and Mike Hoeck.
Mark McGovern and Scott Peterson of CBRE Debt & Structured Finance secured a $70-million, four-year, variable rate loan for the buyers. It was provided by Cornerstone RE Advisors.