Cushman & Wakefield has encouraged Denver-based mostly Black Creek Team in the sale of the Chula Vista Industrial Heart in San Diego, California for $25.7 million. The Chula Vista Industrial Middle is a two-building 158,138-square-foot Class A multi-tenant task situated on 11.93 acres in San Diego’s South County sector. The house was obtained by the partnership of New York-dependent KKR and Chicago-based mostly Alpha Industrial Qualities. The challenge was 100 p.c leased at the time of sale.
Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey, and Devin Muna of Cushman & Wakefield’s San Diego and Orange County workplaces represented Black Creek Team, formerly Industrial Assets Trust, in the transaction. The firm’s Ryan Spradling and Brant Aberg also offered nearby market advisory.
“Chula Vista Industrial Middle has been meticulously maintained as evidenced by the recent roster of top quality tenants and traditionally higher occupancy,” reported Bryce Aberg, govt controlling director. “The project’s selection of suite dimensions and develop-outs appeals to a large wide range of industrial consumers in addition to supplying existing tenants sufficient expansion opportunities in just the undertaking.”
He added, “San Diego remains a highly sought right after location for corporations, staff and citizens, and South County stays a essential contributor to San Diego’s thriving economic system. In the meantime, Chula Vista will quickly extend its household and retail amenity foundation generating it even additional interesting for not only firms and individuals but also investors—especially with land expenses rising and scarce developable land.”
Jeffrey Cole, Vice Chair, reported, “This sale is additional evidence that the Increased South County Industrial Marketplace is becoming much more and extra desirable to equally institutional and corporate capital. These teams are becoming drawn to the more recent item availability, key new infrastructure initiatives and currently the most lively tenant submarket in San Diego.”
Found at 1669 & 1675 Brandywine Ave. and concluded in the early 1990s, the structures within the portfolio also offer above-regular loading capabilities, 24-foot crystal clear height, automatic damp sprinkler techniques in all suites, and concrete truck courts. Furthermore, Chula Vista Industrial Center is positioned in close proximity to Interstate 805 and together the north side of the U.S./Mexico border with immediate access to one particular of the world’s busiest land border crossings.
Chula Vista Industrial Middle in San Diego’s South County for $25.7 Million was very last modified: June 12th, 2019 by
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