SAN DIEGO, CA—Cassidy Turley reports the $40,150,000 sale of a three-project office portfolio located in the Sorrento Mesa neighborhood. The projects, totaling 190,154 square feet, were sold by TA Associates Realty to a partnership between DRA Advisors LLC and Cypress Office Properties, LLC. All are 100% leased. Rick Reeder and Brad Tecca of Cassidy Turley’s San Diego office represented the seller and buyer.

“These are high quality office assets, featuring exceptional architectural detail and finishes and superb locations within Sorrento Mesa, one of the world’s leading technology hubs with industry giants including Qualcomm, Samsung and Sony,” said Reeder. “All three projects are very well stabilized with strong credit tenants for secure cash flow and fixed income growth. With in-place rents significantly below current market rents, the portfolio offers the ability to enhance value in a market with outstanding tenant demand and significant barriers to entry including declining vacancy and no new speculative construction.”

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