|
|
8/15/18
|
CapRock Partners acquired a 26-acre land site in San Diego’s Sorrento Mesa submarket for development of an industrial project. Acquired from a private investor, this site will enable CapRock to provide build-to-suit solutions for industrial tenants or develop several speculative industrial buildings to satisfy pent-up demand in one of San Diego’s tightest industrial submarkets.
The site is centrally located on Nancy Ridge Road with convenient access to I-805 and I-15 as well as Carroll Canyon Rd, a major arterial. A prime infill location, it sits near the border of Sorrento Valley and Miramar in close proximity to Qualcomm’s headquarters, ThermoFisher Scientific and a FedEx distribution center.”
“With a less than 3 percent industrial vacancy rate and diverse economy fueled by the defense, technology, tourism, biotech and telecom sectors as well as the area’s population growth, San Diego’s logistics needs are only continuing to grow,” said Bob O’Neill, senior vice president of acquisitions at CapRock Partners. “This site presents a prime opportunity for tenants seeking custom last-mile logistics, manufacturing and other industrial uses, and CapRock will continue to seek additional acquisition opportunities in this high-demand, land constrained market.”
Mike Erwin, Tucker Hohenstein and Evan McDonald of Colliers International served as brokers on the acquisition.
This transaction follows CapRock’s two other recent acquisitions in San Diego, totaling 250k sf. A 91k sf acquisition of surplus corporate real estate in Scripps Ranch is currently undergoing major renovations, with completion slated for September. CapRock also is nearing completion on the renovation of 158k sf of industrial space in Vista. Both are currently available for tenants.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
