CBRE’s Matt Pourcho facilitated the $8.8 million acquisition of Bernardo Regency Centre, a 48,027-square-foot office building in San Diego on behalf of San Diego-based Providence Real Estate Group. Pourcho represented the buyer, Providence Real Estate Group. The seller Beverly Hills-based Omninet Capital represented themselves.
“This was a unique opportunity for Providence Real Estate Group to purchase a well-leased building to occupy while generating strong cash flow from existing tenants,” said Pourcho, executive vice president at CBRE. “Office buildings offer valuable tax benefits through cost segregation and depreciation more so than other product types.”
Bernardo Regency Centre is a three-story building within the Rancho Bernardo Business Park at 11545 West Bernardo Court. It is near the 4S Ranch master-planned community, various retail amenities, and several Fortune 500 companies, including Apple and Petco.
