The Verimatrix building, at 6059 Cornerstone Court West. Photo credit: CBRE

A Los Angeles-based private buyer bought an office building in Sorrento Mesa for $20.6 million, or $398 per square foot.

The 51,690 square-foot property, located at 6059 Cornerstone Court West, has been fully leased since 2013 to Verimatrix. The San Diego-based company, which specializes in content security for digital television services, also has signed a multi-year extension.

The two-story building, built in 1987, features a gym, EV charging stations and 178 parking spaces.

The property, located within San Diego’s densest concentration of Fortune 500 companies, is also near two hubs. Shopping, at Westfield UTC, is less than four miles away. An educational center, UC San Diego, sits three miles away.

Matt Pourcho, Gary Stache, Anthony DeLorenzo and Bryan Johnson of CBRE represented the seller, Newport Beach, Calif.-based real estate investment management firm Buchanan Street Partners, in the transaction.

“This is an extremely stable asset that has served as Verimatrix’s global headquarters for both its business operations and research and development for nearly seven years,” Pourcho said. “Vertimatrix’s commitment to the property was fortified by its recent signing of a 90-month lease one year prior to the expiration of their original lease agreement.”

– Staff reports

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