Lincoln Property Company and Brasa Capital Management have joined forces to acquire a specialized life science facility in San Diego. The exact purchase price has not been disclosed, but the property is located at 10165 McKellar Ct. The seller was QuidelOrtho Corporation, who currently occupies the entire building but plans to move out by 2025.
The two-story facility is situated in Sorrento Mesa, a prominent area for life science activity in Southern California. It offers a well-balanced mix of lab space, warehouse space, and corporate offices that were specifically designed for this purpose.
According to Scott Moffatt, Executive Vice President of Lincoln Property Company: “We saw great potential in owning such a versatile asset within this market.” He also added that their next step will be assessing the needs of current and future tenants to determine how best to utilize 10165 McKellar Court moving forward.
JLL’s Kurt Luedtke and Zac Saloff represented the seller during negotiations.
In summary:
– Lincoln Property Company & Brasa Capital Management acquired specialized life science facility at undisclosed price
– Located at 10165 McKellar Ct., San Diego
– Sold by QuidelOrtho Corporation; they plan on vacating & relocating operations by 2025
– Two-story building located in Sorrento Mesa submarket known for its life science activity
– Offers purpose-built lab/warehouse/corporate office space
– According to EVP Scott Moffatt: opportunity was appealing due its versatility; next step is assessing market/tenant needs
