Sorrento Center 5

Property Type Office - Flex - Office
Property Size 85,107 SF
Lot Size 3.78 Acre
Parking Spaces Avail. 297
Parking Ratio 3.50/ 1,000 SF
Property Tenancy Multi-Tenant
Building Class B
Year Built 1973

Location

Map
Street

City San Diego, CA
Neighborhood Torrey Pines Preserve
Zip Code 92121
Market San Diego

Contacts

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Owner

True Owner
Registered Owner

Tenants

Suite Name	Tenant	Leased Space	Rent Price	Lease Type	Space Type	Lease Term
370 17th Street #5500	MERRILL, (303) 446-5500	23,824 SF	$23/SF/YR	Modified Gross	General Office	11/01/2014- N/A
370 17th Street #6000	Morrison & Foerster, (303) 592-1500	10,710 SF	$26/SF/YR	Full Service	General Office	08/01/2013- 07/31/2023

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Documents

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Sales

Purchase Date 02 Nov, 2018
Purchase Price
Arm's Length True
Buyer Name

Mortgages

Current Lender
Loan Amount
Loan Origination Date

Market Trends

Average Actual Rents in San Diego

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent

Net Rent

$44.3/SF/YR

Recoverables Show detailsHide details

$16.7/SF/YR

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Occupancy & Leasing Activity

Occupancy

83.5%

Lease Spread

-20.5%

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Asking Rents in San Diego Office Market

Office rental rates are based on aggregated data of asking rates.

2020 Avg. Asking Rent $42.06
2020 Office Vacancy Rate 13.02%
2020 Office Completions (SF) 1,076,022

San Diego Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

2020 Avg. Price per SF $349.51
Y-o-Y Avg. PpSF Change 21.91%
2020 Office Sales Volume $1.3B
2020 Number of Transactions 33

View more San Diego market trends

Tax

Property Tax in 2021-2022 $378,697
Market Value* $30,793,342
Assessed Value $30,793,342

Find more tax info, including assessment history and abatements, on CommercialEdge

*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of Sorrento Center 5?

Sorrento Center 5 totals 85,107 square feet.

When was this property built?

Sorrento Center 5 was built in 1973.

When was Sorrento Center 5 last sold?

Sorrento Center 5 was last sold on 02 Nov, 2018.

What is the property tax for Sorrento Center 5?

The property tax for Sorrento Center 5 in 2021-2022 was $378,697.

What is the market value for Sorrento Center 5?

The market value* for Sorrento Center 5 in 2021-2022 was $30,793,342.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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