Swift Real Estate Partners Purchases HP San Diego Campus
SAN DIEGO – November 8, 2016 – CBRE Group Inc., announced that Swift Real Estate Partners purchased the San Diego HP Campus. Located at 16399 West Bernardo Drive in the Rancho Bernardo submarket of San Diego, the HP San Diego Campus includes seven office/R&D buildings and one Class A office building totaling 782,211 square feet on 67.5 acres.
HP Inc. has owned and occupied the campus since the first building was constructed in 1970. HP Inc. will lease back 79 percent of the campus.
Investment advisors Louay Alsadek, Alex Somerville and Hunter Rowe of CBRE along with market expert Brad Black of CBRE represented the seller, HP Inc., while Swift Real Estate Partners represented itself.
"The HP San Diego Campus is a rare investment opportunity," Alsadek said. "There are very few properties of this size and scope in San Diego County, which resulted in significant interest from institutional buyers across the country."
"The HP San Diego Campus aligns well with Swift's successful track record of acquiring and repositioning corporate real estate and will be a great addition to our Southern California portfolio," said Steve Blue, Swift Real Estate Partners' managing director for Southern California. "Moreover, we are excited to now include HP into our tenant line-up and work with them to enhance the campus for the benefit of their employees."
Founded in 2010 and headquartered in San Francisco, Swift Real Estate Partners is an independent and vertically integrated real estate investment firm which seeks to generate attractive risk-adjusted returns for its investors. Focusing on Northern California, Swift selectively acquires and repositions office and industrial assets in select West Coast markets. Swift identifies unique opportunities and executes well-defined business plans while providing real-time, day-to-day oversight for each investment. Swift's professionals bring experience encompassing all aspects of real estate investment and management, including acquisition, financing, leasing, disposition, and construction management.
Cole Mortland