L-3 renews on Wateridge Circle
The lessee of the Deal of the Week was represented by Matt Strockis, of Cushman & Wakefield.
The lessor was represented by Matt Nickels, of CB Richard Ellis (NYSE: CBG).
The deal was the lease renewal by L-3 Communications, a New York-based supplier of products and services used in a number of aerospace and defense platforms, of 123,442 square feet of office and research and development space in Sorrento Mesa at 10770 Wateridge Circle, Suite 100, San Diego, at a value of $8.77 million. The lessor was Metropolitan Life Insurance Company.
Other tenants include Pacific Capital Bank, with a year ago signed a 64-month lease for 20,677 square feet of first floor office valued at $2.3 million, and ACC Consumer Finance in summer 2007 with 25,855 square feet for seven years at $4.7 million.
