Rancho Bernardo, CA – Drawbridge Realty, an investor in operationally important corporate facilities nationwide, announced that Broadcom Inc. (NASDAQ: BRCM) has extended its 90,610 s.f. lease at 16340 West Bernardo Drive in San Diego.
“We were happy to collaborate with our longtime tenant Broadcom to ensure the company’s ongoing presence within Discovery Corporate Center,” said Charlie McEachron, COO, Drawbridge Realty. “This brings our campus to 100% occupancy.”
Drawbridge has been very active nationally as well as in the Rancho Bernardo market. The Broadcom transaction is the second lease completed at the 230,000 s.f. Discovery Corporate Center campus in the last nine months and follows more than one million s.f. of new and extended lease transactions executed by the company nationwide in 2022.
Last year, the firm began construction near 16707 Via Del Campo, the first spec office building to be developed in the Rancho Bernardo market in the last decade. The 83,482 rsf, 3-story Class A office building’s 15-foot ceilings, abundant natural light, outdoor balcony space and high parking ratio are likely to appeal to a wide range of office, R&D engineering and life science users. The building will be completed mid-summer 2023.
Early last year, Drawbridge completed a portfolio recapitalization with Global Atlantic, a strategic partner of KKR. The recapitalization provided Drawbridge with attractive 10-year financing for more than $1.7 billion in assets, opening the door to additional long-term capital to fuel additional acquisitions.
About Drawbridge Realty
Drawbridge Realty is a San Francisco-based real estate investment company focused on acquiring, developing and managing commercial property investments in high growth technology and innovation driven markets across the U.S. Its portfolio primarily consists of strategically important office and research properties leased long-term to large corporations. Drawbridge has a successful history of creating value for corporate clients and investors and has completed transactions involving major companies including Apple, Arrow Electronics, Bayer, Broadcom, IBM, Google, Johnson & Johnson, L3Harris Technologies, Lockheed Martin, Medtronic, NI, Northrop Grumman, Onsemi, SAIC, Take-Two Interactive and Uber.
