SAN DIEGO — Bernardo Executive Center, a 173,244-square-foot, Class B office property in San Diego, has sold to Brookwood Financial Partners for $21.55 million. The center is located at 16835, 16855 and 16875 W. Bernardo Drive. It was 78.2 percent occupied at the time of sale. Brookwood plans to invest $1.4 million-worth in capital improvements at the property, which was built in 1984. Louay Alsadek, Evan August, Jeb Bakke, Scott Kincaid and Mike Corbosiero of CBRE San Diego represented both the buyer and the unnamed seller in this transaction. Scott Peterson and Mark McGovern of CBRE Debt & Equity Finance assisted Brookwood with financing services. CBRE was also retained to lease the remaining space at the property. Alsadek notes this was the first institutional office sale of more than $10 million to occur in the Rancho Bernardo submarket since 2009.
158
previous post