The Challenged Athletes Foundation (CAF) has purchased a 14,485 square foot office building in Sorrento Mesa, California, for $1.66 million. The two-story Class B office building, which was acquired below market value at a public auction on the San Diego courthouse steps, will serve as a permanent home for the foundation, replacing headquarters that were destroyed by an accidental fire in 2007. CAF purchased the building with proceeds from the 2006, 2007, and 2008 Qualcomm Million Dollar Challenge events, CAF's annual cycling fundraisers. Qualcomm Executive Vice President and Chief Marketing Officer Jeff Jacobs and his wife Deni also made what CAF calls a "generous donation" toward the building's purchase, and the couple will choose the name for the building. In addition to serving as CAF headquarters, the building will house a "Challenged Athletes Hall of Fame," a multi-purpose room, donor recognition walls, and a specialized athletic facility with adaptive equipment.
"It's an exciting time for the Challenged Athletes Foundation," said CAF board president and co-founder Jeffrey Essakow. "Now, thanks in large part to CAF's partnership with Qualcomm, challenged athletes will have a place to gather and train, the foundation will have a permanent home, and CAF will have a place to host community and donor-appreciation events. It's the next step in securing the long-term goals of the foundation."
CAF estimates that foundation operations will move into the new facility by the fall of 2009, after approximately six to nine months of renovations to improve the facility.
