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6/27/25
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CenterPoint Properties purchased a 202.5k sf, Class A warehouse and distribution center in San Diego’s Kearny Mesa submarket for $80.05 mil ($395/sf). The property is located at 4400 and 4450 Ruffin Rd, west of I-15 and just south of Balboa Ave.
The newly completed property, spanning 13 acres, is fully leased to three high-quality tenants with long-term leases and in-place rents below market. The project features various suite sizes, with a 32-foot clear height, 57 dock-high doors, 11 grade-level doors and 1.6 acres of excess land. The strategic location provides ideal access to the region via Interstate 15 (I-15), I-805, I-5, I-8, State Route 163 (SR-163) and SR-52.
CBRE’s Hunter Rowe and Matt Carlson, along with National Partners’ Michael Longo, Eric Cox, Barbara Perrier, Joe Cesta and Brian Russell, represented the seller, a real estate investment and management company, in the transaction.
“Many investors today are focused on lower risk assets, as they price through the market volatility. The San Diego logistics market has been more shielded from this volatility than the balance of Southern California, and the Ruffin Road property is best-in-class, in a bullseye location, with great credit tenancy and longer-term leases,” noted Longo.
According to CBRE research, Kearny Mesa is the most active industrial submarket, with 15.5 msf of space. Overall, tenant demand remains strong, while the supply of quality space is near a historic low.
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