SAN DIEGO, CA—Cassidy Turley reports the$40,150,000 sale of a three-project officeportfolio located in the Sorrento Mesaneighborhood. The projects, totaling 190,154 square feet, were soldby TA Associates Realty to a partnership betweenDRA Advisors LLC and Cypress OfficeProperties, LLC. All are 100% leased.Rick Reeder and Brad Tecca ofCassidy Turley's San Diego office represented the seller andbuyer.

“These are high quality office assets, featuring exceptionalarchitectural detail and finishes and superb locations withinSorrento Mesa, one of the world's leading technology hubs withindustry giants including Qualcomm, Samsung andSony,” said Reeder. “All three projects are verywell stabilized with strong credit tenants for secure cash flow andfixed income growth. With in-place rents significantly belowcurrent market rents, the portfolio offers the ability to enhancevalue in a market with outstanding tenant demand and significantbarriers to entry including declining vacancy and no newspeculative construction.”

The Sorrento Mesa office portfolio comprises 5910Pacific Center, a three-story buildingset on 2.47 acres with 50,882 square feet; Pacific HeightsPlaza, a two-story, 51,261-square-footbuilding set on 2.82 acres at 9985 Pacific Heights Boulevard; andSorrento Heights, a two-buildingproject totaling 88,011 square feet on a 5.2-acre site at10020 and 9980 Huennekens Street.