|A 24k sf industrial flex property in San Diego’s Rancho Bernardo submarket traded hands at a price of $2.6 mil ($108/sf). Situated on 5.3 acres, the building provides the buyer with an opportunity for future development.
The property, located at 16798 West Bernardo Dr, adjacent to I-15, was purchased by Swinerton Incorporated, a family of construction companies that provides commercial construction and construction management services throughout the Western United States. Swinerton will use the building for its San Diego headquarters
Brian Mulvaney, SIOR, and CCIM, Senior Vice President in Voit’s San Diego office, along with Bruce Sanders, also a Senior Vice President in Voit’s San Diego office, represented the seller, DBA West Bernardo Office Partners LLC, in the transaction. Paul Brown, a Vice President in Voit’s San Diego office, represented the buyer.
“This is an extremely well-located building with a 2:1 floor area ratio (FAR), offering excellent potential for future development,” said Mulvaney. “The seller had originally planned to develop an office building at the site, which was delayed due to the weak economy.