SORRENTO MESA, CA- Layton-Belling Associates of Newport Beach takes three office buildings in the Sorrento Mesa area of San Diego. The properties, totaling 177,135 sf, fetched nearly $27.4 million. W9/PC Limited Partnership, a joint venture of Newport Beach-based WCB Properties and Goldman Sachs’ Whitehall Funds, sold the property to LBA.”These properties are ideally situated in the desirable Sorrento Mesa market and all have excellent tenant rosters. The sale of the portfolio represents a complete execution of our strategy of purchasing well located, value added opportunities in supply constrained markets,” says Ron Lack of WCB Properties.The buildings are located at 6262 Lusk Blvd. and at 6160 and 6170 Cornerstone Court East. The 78,864-sf Lusk Building is 100% occupied by Qualcomm while the Cornerstone buildings, that check in at a combined 98,271 sf, are multi-tenant properties and home to companies such as Alliant International University, Cingular Wireless, Farmers Insurance and Pioneer Digital Technologies.”Layton-Belling has on-going investment programs focused on core, core-plus and value-added office and industrial properties and these properties met all of its acquisition criteria,” according to Bob Prendergast of Burnham’s Capital Markets Investment Group. Prendergast, along with Burnham’s Lynn LaChapelle, Ryan Gilbert, Mark Wayne and Steve Wolf represented WCB Properties and LBA in the transaction. WCB Properties is a privately held real estate investment and development company headquartered in Newport Beach. Since 1994 WCB has acquired more than $1 billion dollars of real estate totaling approximately 11 million sf. Founded in 1991, LBA is a full-service real estate and investment management company with regional offices throughout Southern California, including San Diego, Los Angeles and its headquarters in Orange County. The company has owned, managed and/or developed more than 10 million sf of Southern California industrial and office properties. During the last seven years, the company has acquired more than 100 industrial and office properties totaling approximately $1.2 billion.

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