X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO-The Shidler Group has sold a 72,500-sf office building at 5505 Morehouse Drive in Sorrento Mesa for $16.2 million. L&B Depp Morehouse, Inc., an affiliate of Dallas-based L&B Realty Advisors Inc., bought the building in a cash deal. Shidler purchased the building in January for $11.5 million from Maintenance Warehouse Inc., a wholly owned subsidiary of Home Depot.

The three-story property, built in 1986, consists of two wings connected by a common entry. It is occupied by Texas Instruments, which signed a seven-year lease valued at about $14.6 million at the time the building was purchased by Shidler.

“The appreciation in the value of this building demonstrates that the demand for high-quality occupied office properties remains strong,” says Matt Root, a Shidler partner.

Bret Gossett, Nick Psyllos, Tyson Moffatt and John Gross of CB Richard Ellis represented the Shidler in the transaction. Stan Tomer and Pat Kane of CB Richard Ellis negotiated for L&B Realty.

Shidler owns a large and growing portfolio of commercial real estate investments in California, Arizona, Texas and Hawaii.

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

Once you are an ALM digital member, you’ll receive:

  • 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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.