Register
The industrial facility at 8330 Arjons Drive. (photo: SAM CHEN / ALOHA PHOTOVIDEO)
The industrial facility at 8330 Arjons Drive.
15.10.2020, 23:47

Acquisition of San Diego Industrial Facility

Real Estate, Industrial, Americas, Service Provider News

An anonymous HNW investor has acquired a fully-leased 27,000 SF single-tenant industrial facility in Miramar (San Diego), California for US $7.5 million in a deal brokered by Cushman & Wakefield.


Bryce Aberg and Zach Harman from Cushman & Wakefield represented the former owners, Stos Partners, in negotiations over the sale of the asset - with their colleague, Brant Aberg, providing leasing advisory services.

 

Located at 8330 Arjons Drive, the facility is situated on an acre of land and positioned near Interstates 15 and 805, and the CA-163 freeway, providing convenient access to San Diego International Airport and the Port of San Diego.

 

C. J. Stos, MRED, Principal of Stos Partners comments: "We saw a great opportunity to acquire the asset last summer and then completed a full renovation to make the facility much more appealing and functional to a wide range of tenants.

 

"This strategy enabled us to then successfully fully lease the property to a San Diego-based manufacturer of sustainable design materials on a long-term basis, whereby stabilizing the asset to create value for a new investor to purchase the building."

 

Bryce Aberg, Cushman & Wakefield Vice Chairman, added: "Given its still solid market fundamentals, we continue to see demand from investors from all over for high quality industrial product in San Diego, particularly those with credit tenancy.

 

"With a secure long-term tenant and a prime location in a preferred submarket, the renovated property now reflects a best-in-class asset in Central San Diego, one of the most difficult markets in San Diego to acquire or develop new buildings—the market is essentially built-out and land costs are significantly higher than in the secondary markets."

 

 


Article rating:

vote data

Leave a reply

Pictured (L-R): Bimsense Chair, Nigel Hedley, with Maurice Disai (Mercia) and Bimsense executives Scott Pilgrim, Ian Yeo and Tim Mutlow. (photo: Shaun Flannery)
News Editor  - 09.10.2020

BIM Maintenance "Gamechanger" Secures Seed Funding

Two construction experts with a vision to revolutionise building maintenance by making Building Information Modelling more accessible, have raised £250,000 to bring their smart building solution to...

 (photo: Cottonbro)
News Editor  - 14.10.2020

Hygiene Essential to Getting Back to Business

Over 75 per cent of returning workers in the United Kingdom feel unsafe according to a survey commissioned by Kimberly-Clark Professional from Harris Interactive.

 (photo: Vodafone Group PLC)
News Editor  - 14.10.2020

Energy Savings at Vodafone

A range of energy management measures from Mitie has helped Vodafone UK achieve energy savings of £10 million during the last three years.

 (photo: Baldwin Boxall)
News Editor  - 30.10.2020

Baldwin Boxall Finance Director Retires

Life safety systems manufacturer Baldwin Boxall has announced the retirement of Finance Director, Neil Williams, following thirteen years of service.

 (photo: )
News Editor  - 30.10.2020

A Digital Technology Leader

Mitie's Mozaic analytics portal has been selected as "Big Data/IoT Project of the Year" at Computing's 2020 Digital Technology Leaders Awards.

Uwe Großmann will combine new business development with championing smart building technologies. (photo: MateoViva)
News Editor  - 30.10.2020

Siemens Veteran Joins MateoViva

Uwe Großmann, former Head of Sales and Operations for Siemens Smart Infrastructure in Germany, has been appointed to the advisory board of smart building platform provider MateoViva GmbH.