DRAWBRIDGE REALTY TRUST ACQUIRES A TWO BUILDING CORPORATE CAMPUS IN SAN DIEGO, CA LEASED TO NORTHROP GRUMMAN
San Diego, CA - April 30, 2014 - Drawbridge Realty Trust has acquired the two building corporate office campus located at 16710 & 16750 Via Del Campo Court in Rancho Bernardo, CA for approximately $26 million. The two, 2-story office buildings comprise 168,072 square feet and are 100% net leased to Northrop Grumman (NYSE: NOC). Northrop Grumman utilizes this location as the "Unmanned Systems Center of Excellence in Rancho Bernardo." The corporate campus includes amenities such as a full service cafeteria, an outdoor amphitheater, basketball courts, connecting sky-bridge, and a parking structure.
"We are very pleased with the acquisition of Via del Campo Court. The acquisition fits well within our profile of acquiring strategically important properties leased to large corporate users," said Mark Whiting, CEO of Drawbridge Realty Trust, LLC.
The seller, WAM Via Del Campo Limited Partnership, was represented by Brian Driscoll and Rick Reeder of Cassidy Turley.
The campus is located in Rancho Bernardo just east of Rancho Santa Fe and Fairbanks Ranch, which boast high concentrations of executive housing, easy access to the 1-15 housing corridor, as well as many shopping and dining options. The area is well known for its concentration of major corporate tenants such as: General Atomics, Hewlett Packard, Sony, Broadcom, BAE, Nokia, Cymer, and Teradata.