The Point, which includes two four-story office buildings, eachwith 93,699 sf, and an adjacent 100,092-sf office and R&Dbuilding, is located off the I-15 in Rancho Bernardo. "The area isgaining notoriety as a premier corporate location," says JasonWood, senior vice president of financing and leasing, with CisterraPartners. Wood adds that the latest buy brings the firm's portfolioto more than 800,000 sf in San Diego County.

Lynn LaChapelle, senior vice president and principal withBurnham Real Estate, along with Burnham's Bob Prendergast, Tom vanBetten and Marc Posthumus represented both the buyer and the sellerin the transaction. The Burnham team will continue to handleleasing efforts for the project.

In a recent market report, Burnham Real Estate predicted thatSan Diego County would face a soft economic landing rather than afull-blown recession, emphasizing that the R&D sectorexperienced its highest level of activity since 2000. Expertsattribute this momentum to a demand for flex space and to companiesseeking out more affordable alternatives to higher priced class Aoffice space.