CBRE Brokers San Diego Industrial Asset Sale
- Dec 04, 2019
Padres Janitorial Supplies has sold a 17,784-square-foot industrial property in San Diego for $3.6 million. San Diego County public records show Umpqua Bank originated a $2.7 million acquisition loan for buyer Inline Distributing Co., a construction supply company.
Senior Vice President Bill Dolan and Vice President Ryan Sparks from CBRE worked on behalf of the buyer. Recently, a different team from the same brokerage company closed the $19.3 million sale of a 96,000-square-foot retail center in San Marcos, Calif.
Located at 3380 Market St., the freestanding industrial building is less than a mile from the Interstate 15 interchange, roughly 3 miles east from downtown San Diego and 7 miles from the San Diego International Airport. Completed in 2000, the asset includes a fully fenced yard and a secured parking lot with concrete driveways. Additionally, the building comprises two dock high loading positions and one grade level door.
According to a recent CBRE report, the metro’s third quarter leasing activity reached the highest level since Q3 of 2015, representing some 546,000 square feet of net absorption. Moreover, San Diego is on track to closing one of its strongest leasing activity years, with more than 12 million square feet through three quarters.
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