Discovery Corporate Center Building Sold for $36.5M

Drawbridge Realty Trust, a San Francisco-based real estate investment and development company, announced that it had acquired the Discovery Corporate Center Building A in San Diego, California for $36.5 million. Menlo Equities sold the property, originally developed by Bernardo Technology Partners, which was formed in June 2004 to develop, own and operate a 242,526‑square‑foot office technology campus built in two phases. Terms of the deal were not disclosed.

"Building A is the third building we've acquired in the Discovery Corporate Center campus," said Mark Whiting, CEO of Drawbridge Realty Trust. "It's the flagship property on the campus, and serves as Broadcom's regional headquarters."

Adjacent to Rancho Bernardo Road and the I-15 freeway, Building A at 16340 West Bernardo Drive is a three-story Class A office building with 90,610 square feet of space on just over four acres. The property was 100% leased at the time of sale to Broadcom Corporation.

For more news and information visit Blumberg Capital Partners.

Drawbridge Realty Buys CA Office Buildings for $73M

Drawbridge Realty Trust, San Francisco-based real estate investment and development company, announced this week that it had acquired four buildings in San Diego County and Silicon Valley, adding over 227,600 square feet to Drawbridge's portfolio. According to a CoStar report, the company acquired three office buildings in San Diego and one in Santa Clara, CA, for an aggregate $73 million. The acquisitions occurred after Drawbridge received a $150 million capital infusion from Almanac Realty Investors last September.

"We feel that each property is ideally located in its submarket and is well positioned to attract and retain large corporate users," said Mark Whiting, CEO of Drawbridge Realty Trust. "We are looking forward to expanding the firm's portfolio, optimizing potential opportunities through redevelopment, and continuing to invest in quality properties."

Three properties were purchased in San Diego submarkets. Two buildings of the Discovery Corporate Center campus located at 11020 Via Frontera Drive and at 16465 Via Esprillo in Rancho Bernardo and developed by Webcor, were acquired for $53 million. The two properties are leased to Broadcom Corporation and comprise 137,438 square feet. The seller was Menlo Equities, LLC, and no brokers were involved in the off market transaction. Drawbridge also acquired a vacant life sciences building in San Diego County's Sorrento Mesa area, located at 6550 Nancy Ridge Drive. The 24,117 square-foot building was acquired for approximately $2 million and will be redeveloped to attract a corporate user. The fourth property is located 3201 Scott Boulevard in Santa Clara and was purchased for just under $18 million. The building totals 66,106 square feet and is leased to Advantest America. The seller was also Menlo Equities, LLC.

For more news and information visit Blumberg Capital Partners.