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8/21/17
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An entity of Lincoln Property Company has purchased a 72.2k sf industrial facility on 2.32 acres in San Diego’s Morena submarket for nearly $11.5 mil, or about $159/sf. The property is currently 100% leased to a single tenant.
Located at 5260 Anna Ave, the facility is composed of 66.4k sf of warehouse space and 5.8k sf of office space and can accommodate manufacturing, distribution and warehouse uses. Other facility features include four dock and two grade doors, good power, 53 parking spaces, 16’ to 30’ clear height, and secured fenced yard.
Cushman & Wakefield’s Bryce Aberg, Brant Aberg and Ryan Spradling represented the buyer and the seller, Bixby SPE Finance 1, LLC.
Bryce said, “This is a great facility in a vibrant and ideal San Diego industrial location, set amidst a cluster of large-scale corporate industrial users. The property is a quick drive to reach virtually the region’s entire core freeway network close to Interstates 8, 5, 805 and 15 plus Highway 163, making it convenient to nearby and distant locations across the Southern region. Its centralized location is also just minutes from San Diego International Airport and Port of San Diego.”
According to Cushman & Wakefield’s latest research report, the Morena industrial submarket reported overall vacancy of just 2.3% at midyear 2017, which was below Central County’s collective mark of 4.5% as well as San Diego’s countywide vacancy of 5.1%--all of which continue to be viewed as strong, healthy levels.
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