BLT Enterprises sells office campus in San Diego

BLT Enterprises has sold the Sorrento Tech campus, comprised of three creative office/R&D buildings totaling more than 93,480 square feet, in the Sorrento Mesa submarket of San Diego, California, to Longfellow Real Estate Partners for $39 million.

During the firm’s four-year ownership of the assets, BLT Enterprises implemented a strategic repositioning plan, driving up the value and bringing the campus to 100 percent occupancy, according to Bernard Huberman, founder and president.

“We purchased the buildings mid cycle following the Great Recession, recognizing the value of their central location in a booming submarket,” said Huberman, noting that at the time, one-third of the project was vacant, functionally obsolete space, and two of the buildings had been distressed assets purchased from the prior lender. “We completed a range of light-to-heavy upgrades and the campus has now been fully leased to multiple tenants for several years.”

BLT Enterpris