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SAN DIEGO-H.G. Fenton Co. has acquired the 114,000-square foot Cornerstone Business Center office and R&D business park from an affiliate of TA Associates Realty for $14 million in a 1031 exchange. The new owner plans to renovate the property, which is situated at 6181-6199 Cornerstone Court East in the Sorrento Mesa submarket , with upgraded landscaping, parking lot improvements and new roofs.

Cornerstone Business Center comprises four office and R&D buildings that are 89% leased. Fenton’s 1031 exchange involved the sale of Lot 6 in the company’s Fenton Technology Park in Sorrento Mesa.

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