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11/15/18
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Westcore Properties has acquired 6.64 acres of land in San Diego that is zoned for light industrial, office or commercial uses. Westcore is working to entitle the land for development of build-to-suit corporate facilities and/or speculative, light industrial buildings ranging in size from 30k sf to 45k sf.
The site, located along Sorrento Valley Rd at Industrial Ct, was sold by CALTRANS. The land is part of a central San Diego submarket, which includes Sorrento Valley, Sorrento Mesa, Torrey Pines, UTC and Miramar/Mira Mesa and is considered one of the tightest and best-performing submarkets in San Diego County.
“Sorrento Valley offers easy access to the I-5, I-805, SR 56 and SR 52 and proximity to both executive and workforce housing,” said Hack Adams, senior vice president at Westcore. “Those factors plus its mid-county location make it one of the most sought-after markets for many of San Diego’s leading industries.”
Dean Asaro of Cushman & Wakefield represented Westcore in the transaction, while SANDAG represented itself. The price was not disclosed.
“Westcore has purchased one of the most highly sought-after sites available along the central San Diego Interstate 5 corridor,” said Asaro. “The site has attracted interest for years from industrial, office, life science and retail companies but has not been available for sale until recently when Caltrans put it up for auction this past July.”
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