by Dan Peoples | Nov 20, 2012

October 26, 2012

NEWS FROM:  Parallel Capital Partners, Inc.

FOR INFORMATION: Matt Root, Parallel Capital Partners, 858-882-9506
   Jim Ingebritsen, Parallel Capital Partners, 858-882-9504
   Dan Peoples, Peoples & Company, 858-552-1456

Parallel Capital Partners Renews Tek84 Engineering Group at One Technology Place

San Diego, Calif.  Parallel Capital Partners, Inc. reports that Tek84 Engineering Group has renewed for 7,493 square feet of office space in the building located at 10907 Technology Place in San Diego, California. The lease term is for 12 months.

One Technology Place is located at 10905, 10907, 10908, 10911, 10915, 10918, 10919, 10929, 10939 and 10949 Technology Place in Rancho Bernardo, Calif., 92123. The 150,738-square-foot complex on 11.8 acres was built in 1985. Currently 70% occupied, major tenants include San Diego Gas & Electric and JMAR.

Both parties represented themselves in this transaction.

Founded in 2009 by Dr. Steve Smith, the company is a research and development group specializing in the commercialization of novel electronic imaging systems. 

Parallel Capital Partners, Inc. (parallelcapitalpartners.com) is a real estate investment and operating firm that focuses on office, industrial and retail property acquisition in markets in the western U.S. and Hawaii. The company identifies opportunities where assets are undervalued and uses restructuring, capital improvements and superior leasing and management to turn value-added opportunities into core properties.