JLL Capital Markets facilitates the sale of the ~90,000-square-foot portfolio
News release
18 March 2024
Two-property portfolio in Rancho Bernardo trades for $30.8M
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SAN DIEGO, Mar. 18, 2024 – JLL Capital Markets announced today that it arranged the $30.8 million sale of a premier R&D/Lab portfolio in Rancho Bernardo in San Diego, California.
JLL worked on behalf of the seller, Montana Avenue Capital Partners, LLC, and procured the buyer, Dollinger Properties.
The portfolio, comprised of two, fully leased buildings located at 16981 Via Tazon and 11501 Rancho Bernardo Blvd, offers a combined rentable area of approximately 90,000 square feet.
The JLL Capital Markets team was led by Bob Prendergast and Lynn LaChapelle along with Agency partners Tim Olson and Greg Moore.
"The Rancho Bernardo submarket continues to be an attractive investment destination," said Prendergast. "This offering presented the investor the opportunity to secure a property with a committed tenant who has invested significant capital into its lab and office space. The assets are proximate to major highways and are integrated in the greater I-15 Technology Corridor.”
"The market demand for R&D and lab properties in San Diego remains robust, driven by the region's thriving technology and life sciences sectors," added LaChapelle. “This transaction exemplifies our commitment to providing superior advisory services in a challenging environment and delivering exceptional outcomes for our clients."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.