NKF Arranges Sale of San Diego Industrial Portfolio
- Nov 02, 2017
Colony Capital sold a two-property industrial portfolio in San Diego. Totaling 132,335 square feet spread across nine buildings, the assets are 60 percent occupied. The portfolio comprises five-building Kearny Mesa Executive Park, located at 7827 to 7867 Convoy Court, and four-building Kearny Mesa Corporate Center, located at 9303 to 9323 Chesapeake Drive and 9320 to 9340 Hazard Way. The Kearny Mesa submarket consists of 15.5 million square feet of office and industrial property and is recognized as a major commercial/industrial submarket within central San Diego.
NKF’s West Coast Capital Markets President Kevin Shannon, Executive Managing Directors Ken White and Bret Hardy, Senior Managing Director Brunson Howard and Managing Director Rick Stumm represented the seller. The buyer—a family trust—was self-represented.
“This quality portfolio provides the buyer with a strong opportunity to add substantial net operating income and value appreciation by leasing up the available vacancy to a range of small to large user types,” Howard said in prepared remarks.
Image courtesy of NKF