Lincoln Property Company and joint venture partner Brasa Capital Management acquired a specialized life science facility at 10165 McKellar Ct. in San Diego for an undisclosed amount. The 79,313-square-foot property was sold by QuidelOrtho Corporation, which currently occupies the entire building and plans to vacate and relocate operations to other facilities in San Diego in 2025.

10165 McKellar Ct. is a two-story facility located in the western Sorrento Mesa submarket, a Southern California hub for life science activity. The property comprises a well-proportioned mix of purposefully built lab, warehouse and corporate office space.

“The opportunity to own a versatile asset in this market was appealing to our team and Brasa,” said Scott Moffatt, EVP of Lincoln. “Our next step will be to assess the market and the needs of current and future tenants to determine the best use-case for 10165 McKellar Court moving forward.”

Kurt Luedtke and Zac Saloff of JLL represented the seller in the negotiations.

CBRE arranged the $12.05-million sale of 6060 Cornerstone Ct. West, a 67,099-square-foot office building in San Diego, to a local private investor, Sorrento Biotech Center LLC, which plans to convert the property for life sciences use. A CBRE team of Matt Carlson, Hunter Rowe, Camille Doan, Alex Hayden, Barbara Perrier, Mike Longo, Matt Pourcho and Anthony DeLorenzo represented the corporate seller. Chris Duncan of Voit Real Estate represented the buyer.

“Significant entrepreneurial capital continues to flow into the market, focusing on mid-market lab investments and repurposing underutilized assets,” said Carlson.

The asset is situated on 2.96 acres at a prominent intersection in Sorrento Mesa, a hub for growth and innovation. Its prime corner location is enhanced by proximity to universities, renowned research institutions and San Diego’s life sciences epicenter.

Built in 1985, the property was owned and occupied by a corporate owner. This transaction marks the first time the asset has been for sale to the broader real estate market.

Trammell Crow Company (TCC) is on target to finish construction of a $100-million-plus lab and office building in Sorrento Valley by early summer as the life science real estate market slowly recovers from a post-COVID downturn, the San Diego Business Journal reported. TCC is building the four-story building on spec, with no tenants lined up prior to construction. 

Although no leases have been signed yet, “We’re getting really good feedback from everybody in terms of the design and the layout, so it’s just a matter of time getting it filled now,” Chris Tipre, principal and San Diego market lead for TCC, told the Business Journal.

The four-story building is named Vista Sorrento Labs for its location at 10251 Vista Sorrento Pkwy. in sight of Interstate 805. It was designed by Ware Malcomb with Swinerton as the general contractor. 

Although Vista Sorrento Labs is TCC’s first life science project in San Diego County, Tipre said it won’t be the last. “We are looking on a couple of others down the street that are in pre-development,” he said.

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