SAN FRANCISCO--()--Drawbridge Realty Trust has acquired four buildings in San Diego County and Silicon Valley. The acquisitions added over 227,600 square feet to Drawbridge’s portfolio, now totaling 1.8 million square feet across the Western United States. The recent purchases occurred after the firm received a $150 million capital infusion from Almanac Realty Investors last September.
“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, 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.
Drawbridge Realty Trust increased its Northern California holdings by acquiring a two-story office building in Santa Clara. The property is located 3201 Scott Boulevard 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.
“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. “We are looking forward to expanding the firm’s portfolio, optimizing potential opportunities through redevelopment, and continuing to invest in quality properties.”
About Drawbridge Realty Trust, LLC
Drawbridge Realty Trust, LLC is a San Francisco-based real estate investment and development company that targets commercial property investments in select markets across the western United States. Drawbridge pursues properties suited to large corporate tenants, with an emphasis on fully occupied buildings, as well as properties that are ready for new development, redevelopment, or conversions to higher and better uses. The firm currently holds properties in the Silicon Valley, San Diego, Austin, Texas, and Salt Lake City, Utah.
Mark Whiting and Mark Pearson founded Drawbridge Partners, the predecessor to Drawbridge Realty Trust in 1999. The partners bring a history of assisting major public and private corporations and institutional owners of commercial property with their real estate needs while creating value for investors. Drawbridge has completed transactions with major corporations including Alza, Angiotech Pharmaceuticals, Bell Industries, Cell Genesys, Google, Equifax, Johnson & Johnson, L-3 Communications, Lockheed Martin, Stanford University, Unisys, the U.S. Postal Service, and WilmerHale. In late 2011, Drawbridge Partners recapitalized the company for growth with a $150 million investment from Almanac Realty Investors, and changed its name to Drawbridge Realty Trust.
For more information please visit: www.drawbridgerealtytrust.com.