SAN DIEGO (November 29, 2010) – Cassidy Turley BRE Commercial, San Diego’s market leader in commercial real estate services, today announced that Northrop Grumman Systems Corporation has leased 93,161 square feet of office space valued in excess of $9 million at The Point in Rancho Bernardo.
Northrop Grumman signed a 65 month lease for the entire building located at 16765 West Bernardo Drive.
The Point is owned by institutional investors advised by Prudential Real Estate Investors and consists of two Class A office buildings and one R&D building with excellent freeway visibility and access to Interstate 15 and State Route 56.
“We were happy to help Northrop Grumman find a suitable space for their office administrative needs as this transaction represents one of the largest lease deals in Rancho Bernardo this year,” said Brian Driscoll of Cassidy Turley BRE Commercial, who represented PREI® in the transaction along with Tom van Betten and Brett Ward, LEED AP, also with Cassidy Turley BRE Commercial. “Northrop Grumman’s lease signing is a testament to the defense industry’s enduring strength in San Diego.”
Tony Russell, SIOR, of Jones Lang La Salle also represented PREI in the transaction. Tom Martinez of CB Richard Ellis represented Northrop Grumman.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with over 2,800 professionals in 60 offices nationwide. The firm completed transactions valued over $13 billion in 2009, manages over 420 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, corporate services, project leasing, property management, project and development services, and tenant representation. Outside of North America, Cassidy Turley has served the international needs of its clients since 1985. In 2010, the firm enhanced its global service delivery through its partnership with GVA Grimley. The firm recently ranked in the Top 10 on the Lipsey Co.’s Commercial Real Estate Top Brands Survey, and was ranked #1 by Real Estate Alert for Office Sales in 3 of the Top 6 Markets. Please visit www.cassidyturley.com for more information about the company.
Cassidy Turley provides regional real estate services with local San Diego market leader Cassidy Turley BRE Commercial. The company’s dominant market presence includes more than 160 professionals and staff in five local offices and recorded over $800 million in transactions in 2009. For more information about Cassidy Turley BRE Commercial, please visit www.brecommercial.com.