NEARLY 30,000 SF LEASED AT SORRENTO PINES

by Sydnie Moore | May 13, 2013
May 13, 2013

NEWS FROM: Parallel Capital Partners, Inc.

FOR INFORMATION: Matt Root, Parallel Capital Partners, 858-882-9506
Jim Ingebritsen, Parallel Capital Partners, 858-882-9504
Sydnie Moore, Moore & Moore Communications, 619-823-8448

Parallel Capital Partners Leases Nearly 30,000 Square Feet of Commercial Space at Sorrento Pines

Sorrento Valley Office Complex Now 100 Percent Leased

SAN DIEGO, Calif. -- Parallel Capital Partners, Inc. announced today that Bastyr University and HG Motorsports, existing tenants at Sorrento Pines, an office and industrial complex in San Diego’s Sorrento Valley neighborhood, have collectively leased 18,812 square feet in additional space. In addition, VWR International, a distributor of life sciences and analytical products, renewed its nearly 8,000 square foot lease.

According to Matt Root, CEO of Parallel Capital Partners, with these latest transactions, the four-building complex is now 100 percent leased. “Sorrento Valley is a key San Diego market, and these transactions confirm our belief that the area’s transformation from a light industrial and suburban office market into a world-class life science and high tech hub is well under way.”

Bastyr University, an accredited, global institution of natural health arts and sciences offering graduate, undergraduate and certificate programs, leased an additional 12,178 square feet at 4110 Sorrento Valley Boulevard for 107 months, bringing its total square footage within the park to 31,478 square feet. Cassidy Turley represented Parallel in the transaction and Bastyr represented itself.

A luxury and exotic car tuner, HG Motorsports expanded its space at 4122 Sorrento Valley Blvd. by 6,634 square feet, with its total square footage now totaling 11,288 square feet. The lease is for 60 months. Tom Nicholas of Colliers International represented HG Motorsports and Parallel represented itself.

VWR International, located at 412 Sorrento Valley Blvd., renewed its lease for 7,908 square feet. Both parties represented themselves in the transaction.

Sorrento Pines Business Park, a 114,399-square-foot office and industrial complex on 7.9 acres, is now 100 percent occupied, with anchor tenants including Pall Corporation and Asteres, Inc. The buildings are at 4106, 4108/4110, 4116 and 4122 Sorrento Valley Blvd in San Diego, California.

About Parallel Capital Partners, Inc.

Parallel Capital Partners, Inc. (parallelcapitalpartners.com) is a private, fully-integrated real estate investment and operating company focused on acquiring value-added and core-plus opportunities for its own account in the western United States and Hawaii.