Emri Group, Alex Brown Realty Sell Sorrento Mesa Building for $10.7M to Locale Advisors

May 29, 2015

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<strong>DTZ’s Bill Cavanagh, Mike Novkov Represent Seller</strong></p> <p>SAN DIEGO, – May 29, 2015 – (RealEstateRama) — DTZ, a global leader in commercial real estate services, announced today the $10.7 million sale of 5825 Oberlin Drive, San Diego, CA 92121, a vacant, one-story, 60,000-square-foot office building.<span id="more-3454"></span></p> <p>DTZ’s Bill Cavanagh and Mike Novkov represented the seller, Emri Group and Alex Brown Realty, in the transaction with San Diego-based Locale Advisors. DTZ will continue to handle Project Leasing and Property Management efforts at 5825 Oberlin Drive on behalf of Locale Advisors.</p> <p>“The new ownership has extensive plans to convert the property into a creative/lifestyle office community campus featuring a common area courtyard, indoor/outdoor workspaces, private ‘backyard spaces’ and progressive creative interior build-outs,” said Mr. Cavanagh, Senior Vice President of DTZ. “The renovations at ‘THE YARD’ will capture San Diego’s style character and unparalleled climate within the indoor and outdoor workspaces, creating an office environment desired by today’s top talent in the workforce. It’s going to be a great addition to the San Diego business community.” </p> <p>“This is an exciting acquisition for Locale Advisors, as the asset provides us with an unique opportunity to develop a truly creative indoor/outdoor community that will incorporate a new approach and a vibe not seen in Sorrento Mesa and the surrounding submarkets,” Matt Panebianco, VP of Asset Management, Locale Advisors.</p> <p><strong>About Locale Advisors</strong></p> <p>Locale Advisors is a San Diego-based real estate investment firm that specializes in the acquisition of value add and redevelopment projects with particular emphasis on office, creative, technology and collaborative work spaces throughout Southern California. The company was founded in 2014 by highly regarded real estate industry veteran Philip Monroe, who has acquired or helped facilitate the acquisition of more than $300 million of activity within the past year including the San Diego Tech Center and Torrey Reserve West.</p> <p><strong>About DTZ</strong><br /> DTZ is a global leader in commercial real estate services providing occupiers, tenants and investors around the world with a full spectrum of property solutions. The company’s core capabilities include agency leasing, tenant representation, corporate and global occupier services, property management, facilities management, facilities services, capital markets, investment and asset management, valuation, research, consulting, and project and development management. DTZ provides property management for 1.9 billion square feet, or 171 million square meters, and facilities management for 1.3 billion square feet, or 124 million square meters. The company completed $63 billion in transaction volume globally in 2014 on behalf of institutional, corporate, government and private clients. Headquartered in Chicago, DTZ has more than 28,000 employees who operate across more than 260 offices in 50 countries and represent the company’s culture of excellence, client advocacy, integrity and collaboration. For further information, visit: www.dtz.com or follow us on Twitter @DTZ.<br />+</p>  <script async src="//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script><div class="td-g-rec td-g-rec-id-content_bottom"> <script type="text/javascript"> var td_screen_width = document.body.clientWidth; if ( td_screen_width >= 1024 ) { /* large monitors */ document.write('<ins class="adsbygoogle" style="display:inline-block;width:468px;height:60px" data-ad-client="ca-pub-4765318478912403" data-ad-slot="5509231618"></ins>'); (adsbygoogle = window.adsbygoogle || []).push({}); } if ( td_screen_width >= 768 && td_screen_width < 1024 ) { /* portrait tablets */ document.write('<ins class="adsbygoogle" style="display:inline-block;width:468px;height:60px" data-ad-client="ca-pub-4765318478912403" data-ad-slot="5509231618"></ins>'); (adsbygoogle = window.adsbygoogle || []).push({}); } if ( td_screen_width < 768 ) { /* Phones */ document.write('<ins class="adsbygoogle" 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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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