A partnership between Ascentris and Harbor Associates has sold The Pinnacle, a 110,000-square-foot class-A office building in the San Diego suburb of Rancho Bernardo. The sales price of the property was not disclosed.

Ascentris and Harbor Associates sold the property after completing a value-add business plan. The duo purchased the property in 2018 and made capital improvements, including upgrades to the outdoor common area patio, the lobby, the showers and locker rooms, and the addition of electric vehicle charging stations. The improvements helped drive the building occupancy from 84% at the time of the purchase to 98% at the time of the sale. In addition, the ownership increased rental rates by 20%. The leasing activity prompted the owners to sell the asset.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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