Drawbridge Secures 90 KSF San Diego Office Lease

Discovery Corporate Center – Building A. Image courtesy of CommercialEdge

Broadcom Inc. has signed a five-year lease extension at Discovery Corporate Center, a 230,000-square-foot, Class A office campus in San Diego’s Rancho Bernardo submarket. The tenant is fully occupying the 90,610-square-foot Building A, which keeps Drawbridge Realty’s campus at 100 percent occupancy, COO Charlie McEachron said in prepared remarks.

The current ownership purchased Building A in 2013, for $36.5 million, and Buildings B and D in 2012, for $52.2 million, from Menlo Equities, according to CommercialEdge information. The same source shows that JLL handles leasing at the property. This is the second lease signed at Discovery Corporate Center during the last nine months, according to the owner.

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Completed in 2007, the three-story Building A is located at 16430 W. Bernardo Drive and features two passenger elevators and 30,204-square-foot floorplates, while common-area amenities include a fitness center, controlled access and 363 parking spots.

The two-story Building B, located at 11020 Via Frontera, came online in 2007 as a built-to-suit for Broadcom, while Building D at 16465 Via Esprillo was a built-to-suit expansion also for Broadcom, built in 2011. All three properties include R&D components. Discovery Corporate Center is close to Interstate 15, some 23 miles from downtown San Diego, 29 miles from Oceanside, Calif., and within 32 miles of Carlsbad, Calif.

Other recent Drawbridge Realty deals

In September 2022, Drawbridge Realty secured a 102,000-square-foot lease expansion at its Pacific Center in Santa Ana, Calif. Collectors Universe is now occupying 286,636 square feet of office space.

Earlier in 2022, the company landed a recapitalization for its $1.7 billion portfolio, composed of 5.4 million square feet of Class A office assets situated on the West Coast and Sun Belt region. The company, together with KKR’s Global Atlantic Financial Group, plan on doubling the size of the portfolio, that was 95 percent occupied at the time of the deal.