Innovatus Capital Partners, a New York City-based portfolio management firm, recently announced the purchase of the Pinnacle, a five-story, 110,128-square-foot office property in the San Diego suburb of Rancho Bernardo, Calif. A branch of real estate firm Lincoln Property Company is set to provide property management services for Innovatus’ new office building, marking Lincoln’s 13th U.S. collaboration with the new owner of the Pinnacle.
Located at 10920 Via Frontera, the Pinnacle was built in 2007 and recently underwent several capital improvements, including lobby enhancements; the addition of charging stations for electric vehicles; and new landscaping to complement the mountain and canyon views the property offers.
The office building is conveniently situated along Interstate 15 in the northeastern part of the San Diego metro. At the time of sale, it boasted 100% occupancy. It’s also part of one of the metro area’s major technology and innovation hotspots. In particular, several Fortune 500 tech companies operate in Rancho Bernardo, including Apple, Amazon, HP and Sony, among others. Overall, the metro is a flourishing tech hub, with life sciences being an important part of the metro’s economy, in addition to a strong baseline of other fields making use of office space in San Diego.
“The acquisition of the Pinnacle is further evidence of Innovatus identifying and acquiring best-in-class office properties in high-growth micro markets,” said Bradley Seiden, managing director at Innovatus. “Our national partnership with Lincoln Property Company allows us to have unique access to broad national property markets, and entering the growing San Diego technology and life science market has been a goal for some time.”
Scott Moffat, executive vice president of LPC West’s San Diego region, added: “Our team is thrilled to partner with Innovatus in the purchase of this asset. The Pinnacle is the preeminent Class A office building on the I-15 corridor and is well-positioned as companies return to the office in 2022.”