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December 4, 2023
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Hill Properties Spends $17.5 Mil on San Diego Area Industrial Asset


San Diego-based Hill Properties acquired Via Frontera Business Park, an 80.9k sf property comprising two industrial/R&D flex buildings in Rancho Bernardo, for $17.5 mil ($216/sf) in an off-market deal. The multi-tenant property was 100% leased at the time of sale.

Spanning the addresses 10965 to 10993 Via Frontera Drive, Via Fontera Business Park consists of two single-story buildings on a single 6.2-acre parcel. The property features approximately 16-foot clear height, grade-level loading, 3/1000 parking, 100% HVAC, and is fully sprinklered.

The location provides excellent access to I-15, retail amenities and is surrounded by many world class corporate neighbors. The property is also situated in a San Diego Enterprise Zone.

Hill Properties plans modern improvements to the property’s exterior including signage, landscaping and amenities. The property was sold by Xpress Data Inc, which agreed to leaseback 41k sf of space that it will continue to occupy within the park.

Philip Roberts with Cushman & Wakefield worked with both parties in the transaction.

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