How Sorrento Mesa Became a Tech Hub

Sorrento Mesa has become San Diego’s technology, life science and pharmaceutical hub, thanks to its close proximity to UCSD and Scripps institute and the presence of Qualcomm. Parallel Capital Partners has renewed a 200,000-square-foot lease with American Specialty Health Inc. at The Elements in a deal valued at $110 million. Parallel recently invested $3.5 million into the property, and has a deep understanding of the evolution in the market. We sat down with Matt Root, CEO of Parallel Capital Partners, for an exclusive interview to talk about how Sorrento became a major tech hub.

GlobeSt.com: Tell me about the evolution of the Sorrento Mesa market.

Matt Root: The development of Sorrento Mesa, which is located west of Mira Mesa and east of Interstate 5, began in the 1980s with a series of industrial parks. Over time, the sub market evolved into a research and development market. The area now has a diversified tenant base, with life science, healthcare and technology companies migrating to Sorrento Mesa due to its proximity to Scripps Institute, UCSD, Salk Institute and the Burnham Institute. Also crucial to the area’s appeal has been the organic growth of Qualcomm in Sorrento Mesa.