Why This Firm is Bullish on Sorrento Valley

SAN DIEGO—Location is everything, and this is especially true for Sorrento Valley, a San Diego submarket, whose proximity to three major freeways is enhanced by its research-hub locale, Parallel Capital Partners‘ CEO Matt Root tells GlobeSt.com. His firm is a San Diego-based real estate investment and operating company that owns commercial real estate property throughout the West, including the San Diego Collection, a portfolio of 12 office, lab and R&D buildings Sorrento Valley. Parallel recently announced that new and existing tenants within its San Diego Collection have leased more than 35,000 square feet in new and additional space, representing deals valued at more than $5 million. The leases include deals with MabVax Therapeutics, a leader in anti-cancer therapeutic and diagnostic products; Intrepid Studios, a developer of cutting-edge video games; and new tenant Hamari Chemicals, a pharmaceuticals manufacturer.

According to Root, with these latest transactions, the San Diego Collection is now more than 85% leased.  We spoke with him exclusively about the history of Sorrento Valley, his firm’s investment strategy and why he remains bullish on this market—and San Diego overall.