SAN DIEGO—Touchstone Investments andAngelo, Gordon & Co. have sold a92,479-square-foot, two-story life science building to HCP,Inc. for $43.75 million.
The property at 11099 North Torrey Pines Road also includes an8,829-square-foot state-of-the-art greenhouse. LouayAlsadek of CBRE San Diego arranged the deal.
Situated on 7.88 acres, the building was93% leased at the time of sale to a diversifiedbiotech tenant roster while the greenhouse was 100%leased to Synthetic Genomics. Theproperty is entitled to build an approximately 58,000-square-footoffice/life science building that would replace the greenhouse.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
