Drawbridge Acquires 3 Buildings Leased to Northrop Grumman

May 13, 2015

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<a href="http://california.realestaterama.com/2015/05/13/drawbridge-acquires-3-buildings-leased-to-northrop-grumman-ID03370.html"><img class="alignnone size-full wp-image-3371" src="http://california.realestaterama.com/files/2015/05/Spectrum-Corporate-Center-Campus.jpg" alt="" width="605" height="391" srcset="https://california.realestaterama.com/files/2015/05/Spectrum-Corporate-Center-Campus.jpg 605w, https://california.realestaterama.com/files/2015/05/Spectrum-Corporate-Center-Campus-300x194.jpg 300w" sizes="(max-width: 605px) 100vw, 605px" /></a></p> <p>San Diego, CA – May 13, 2015 – (RealEstateRama) — Drawbridge Realty has acquired the 3-building Spectrum Corporate Center Campus in San Diego, CA for $61 million. The campus totals 182,870 sq ft on 9.88 acres and is comprised of two, 2-story office buildings (44,550 sq ft and 66,050 sq ft) joined by a dramatic atrium lobby and a 3-story office building (66,495 sq ft). <span id="more-3370"></span>The project is 100% NNN leased to Northrop Grumman Systems Corporation, a wholly owned subsidiary of Northrop Grumman Corporation (NYSE: NOC). The site is well located within the thriving Kearny Mesa submarket of San Diego which is a preferred location for corporate occupiers given its central location and freeway access.</p> <p>“Drawbridge continues to focus on acquiring Class A corporate campus investments in preferred locations that feature high barriers to entry. This acquisition not only met all of our acquisition criteria but allowed us to further expand our relationship with Northrop Grumman,” said Chris Elmendorf, Vice President of Investments for Drawbridge Realty.</p> <p>The Seller, Real Estate Capital Partners and IVG Institutional Funds, were represented by Michael Roberts and Brunson Howard of Cushman & Wakefield.</p> <p><strong>About Drawbridge Realty</strong></p> <p><a href="http://http//www.drawbridgerealty.com/" target="_blank">Drawbridge Realty (“Drawbridge”)</a> is a privately held real estate investment company headquartered in San Francisco, California engaged in the acquisition, development, and management of core-plus and value-add commercial properties located in select high growth markets in the United States. Drawbridge employs a disciplined, long-term focus with an emphasis on well-located mission critical facilities well-suited for corporate users. Drawbridge owns and manages a portfolio of successful investments leased to large corporate tenants, demonstrating Drawbridge’s ability to successfully create value for corporations and investors, and has completed transactions with major corporations including Broadcom, Google, Johnson & Johnson, L-3 Communications, Lockheed Martin, Medtronic, Monsanto, National Instruments, Northrop Grumman, and Unisys. Drawbridge and its affiliates have acquired and developed over $1 billion of commercial property since its formation. 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Grace F. Napolitano (D-El Monte), issued the following statement after the Trump administration announced a new proposal—claiming it to be pro-industry—which would weaken federal clean water rules, putting at risk the health and safety of millions of Americans </div> </div> </div>  <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/flood-protection-and-water-storage-ID09937.html" rel="bookmark" title="Flood Protection and Water Storage">Flood Protection and Water Storage</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/realestaterama-2">RealEstateRama</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-07-04T03:31:39+00:00" >July 4, 2019</time></div> </div> </div> </div> </div>  <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/senators-include-legal-protections-for-military-families-in-privatized-housing-in-defense-bill-ID09930.html" rel="bookmark" title="Senators: Include Legal Protections for Military Families in Privatized Housing in Defense Bill">Senators: Include Legal Protections for Military Families in Privatized Housing in...</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/realestaterama-2">RealEstateRama</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-04-01T10:24:14+00:00" >April 1, 2019</time></div> </div> </div> </div> </div>  <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/mccarthy-introduces-legislation-to-repurpose-high-speed-rail-funding-to-water-infrastructure-projects-ID09929.html" rel="bookmark" title="McCarthy Introduces Legislation to Repurpose High-Speed Rail Funding to Water Infrastructure Projects">McCarthy Introduces Legislation to Repurpose High-Speed Rail Funding to Water Infrastructure...</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/congressman-kevin-mccarthy">Congressman Kevin McCarthy</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-04-01T10:20:36+00:00" >April 1, 2019</time></div> </div> </div> </div> </div> </div></div> <aside class="widget widget_archive"><div class="block-title"><span>Government & Nonprofit Press Release Archive</span></div> 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