SAN DIEGO—Drawbridge Realty has acquired thethree-building Spectrum Corporate Center Campushere for $61 million.

The campus totals 182,870 square feet on9.88 acres and is comprised of two, 2-story officebuildings (44,550 sq ft and 66,050 sq ft) joined by a dramaticatrium lobby and a 3-story office building (66,495 sq ft). Theproject is 100% NNN leased to Northrop Grumman SystemsCorporation. The site is well located within the thrivingKearny Mesa submarket of San Diego which is apreferred location for corporate occupiers given its centrallocation and freeway access.
"Drawbridge continues to focus on acquiring class A corporatecampus investments in preferred locations that feature highbarriers to entry. This acquisition not only met all of ouracquisition criteria but allowed us to further expand ourrelationship with Northrop Grumman," said ChrisElmendorf, vice president of investments for DrawbridgeRealty.
The seller, Real Estate Capital Partners andIVG Institutional Funds, were represented byMichael Roberts and BrunsonHoward of Cushman & Wakefield.

Drawbridge Realty, LLC is a San Francisco-basedreal estate investment and development company that targetscommercial property investments predominantly in select marketsacross the western United States with a current portfoliocomprising over two and a half million square feet.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.