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12/03/19
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A 17.8k sf, industrial building near downtown San Diego was acquired for $3.61 mil ($203/sf) by Inline Distributing Company, a construction supply company. It was sold by Padres Janitorial Supplies, a San-Diego-based cleaning supplies company.
Located at 3380 Market Street, the property was originally built in 2000 and features a fully-fenced yard and secure lot with full concrete driveways. The freestanding building also features two dock high loading positions and one grade level door.
The property is less than one mile from the I-15 interchange with SR 94, providing quick access to all parts of San Diego County. The building sits two miles east of Downtown San Diego, which features many of the region’s most popular dining and entertainment destinations. The San Diego International Airport is located six miles northwest of the site.
Ryan Sparks and Bill Dolan of CBRE represented the buyer in the deal. The seller was repped by an outside firm.
The surge of positivity surrounding the San Diego industrial market intensified in Q3 2019, according to a CBRE research report. Third quarter leasing activity reached the highest level since the third quarter of 2015, contributing to 546k sf of net absorption. The San Diego industrial market is on track to post one of its strongest years of leasing activity on record, with year-to-date leasing activity already over 12 msf through three quarters.
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