San Diego-Area Industrial Asset Trades for $3M
- Jan 10, 2018
Gieger Court LLC has sold a 19,504-square-foot industrial building in Vista, Calif., for $3.5 million. Kidder Mathews brokered the off-market transaction on behalf of the buyer, a local private investor.
Located at 1221 Liberty Way, the industrial property is situated an hour’s drive from downtown San Diego, while Los Angeles is a two-hour drive away. The property is part of the area’s well-developed business park on the southern outskirt of Vista, with the McClellan-Palomar Airport only 3.5 miles from the site.
Kidder Mathews’ team of commercial real estate brokers included Joe McDermott and Jeffrey Crocker.
“The sale of 1221 Liberty Way was an off-market leased investment transaction,” said Crocker in prepared remarks. “There is a great deal of competition for quality industrial properties in today’s market, and investors need to be ready to act quickly when an opportunity is uncovered that aligns with a buyer’s investment strategy.”
In December last year, Kidder Mathews provided leasing market expertise on another West Coast industrial transaction. North Creek Parkway Center, a 215,950-square-foot, Class A flex park located in the suburban Seattle area, traded for $36.5 million.
Image courtesy of Kidder Mathews