9755-9775 CLAIREMONT MESA BOULEVARD, SAN DIEGO, CA
FOUR BUILDINGS, 110,234 SQ. FT.
STORIES: ONE – TWO
TYPE: R&D FLEX
YEAR BUILT: 1985
Tierrasanta Research Park is a 9.13 acre R&D/Flex park that features considerable stability as 54% of the rentable area has housed the same group of tenants for over 15 years. Much of the desirability of the park derives from its extremely central and accessible location just to the east side of the I-15 freeway corridor adjacent to Kearny Mesa. The location is ideal for its current use as well as potential future development to the site.
The property was purchased due to its unique attributes of (i) providing excellent investment potential based on financial and physical improvements with its current use, while (ii) providing even higher upside based on potential redevelopment opportunities. The original vacancies have been leased at rates exceeding initial market assumptions at purchase, and the property continues to serve a variety of tenants and uses in the booming Tierrasanta submarket. Purchased with excess land, Monro intends to explore many iterations of the possibility to convert the site into a mixed-use multifamily development in the future