Sterling Bay West, Harrison Street to Acquire Life Sciences Portfolio in Sorrento Mesa, Plan 1.1 MSF Development
SAN DIEGO — Sterling Bay West and Harrison Street have agreed to acquire an office and life sciences portfolio in San Diego’s Sorrento Mesa submarket. City Office REIT is selling the assets for an undisclosed price.
Located at 10390-10445 Pacific Center Court, 5910 Pacific Center Blvd. and 9985 Pacific Heights, the portfolio comprises four life sciences lab buildings, an empty building ready for speculative office/lab space, two office buildings totaling 420,229 square feet and five acres of excess land.
The buyers plan to develop up to 1.1 million square feet of ground-up, Class A life sciences campus facilities on the site. Construction is slated to begin in 2023 and will be completed in phases.