Friday, October 26, 2018

HFF announces sale of Four-building industrial portfolio in San Diego, CA


                                                                                    Photo by Bill Robinson Photography 
Siempre Viva Business Park, Otay Mesa Submarket, San Diego, CA
Nick Frasco
SAN DIEGO, CA – HFF announces the sale of a four-building industrial portfolio totaling 544,864 square feet in San Diego’s Otay Mesa submarket.

The HFF team represented the seller.  The property was purchased by an affiliate of IDS Real Estate Group

Situated on 28.1 acres within the Siempre Viva Business Park, the 99-percent-leased portfolio is located at 8690 Kerns Street, 2660 Sarnen Street and 8863 and 9043 Siempre Viva Road and features convenient access to San Diego’s major distribution corridors, including Interstates 5, 8, 15 and 805, which connect to Southern California’s vital trade routes. 

The portfolio is in San Diego’s Otay Mesa Industrial submarket, which is home to the highest concentration of Fortune 500 companies in San Diego and benefits from its proximity to the United States/Mexico border. 

Nick Psyllos
 Originally constructed between 2001 and 2003, the portfolio properties feature 24- to 32-foot clear heights, wide truck courts, loading via 98 dock-high and 14 grade-level doors, an above-standard parking ratio and low office build-out.

The HFF investment advisory team representing the seller included senior director Nick Frasco, senior managing director Nick Psyllos and managing director Andrew Briner.

“The Siempre Viva Portfolio represented an exceptional opportunity to acquire a critical mass of institutional-quality industrial logistics product in a highly desirable Southern California location,” Frasco said. 

“The portfolio’s diverse tenant roster, which consists of global and national companies with a weighted average remaining lease term of 3.3 years, combined with strong submarket fundamentals that have resulted in an impressive 43 percent rent growth in the past 36 months make the portfolio particularly attractive.”

Andrew Briner
Since its founding over 30 years ago, IDS Real Estate Group has been widely recognized for enhancing value on over $5 billion of commercial real estate.  

Clients, tenants, and partners consider IDS one of the finest comprehensive real estate service providers in the nation.  


  CONTACTS:

NICK FRASCO
CA Lic. #01819400
HFF Senior Director
(858) 552-7690

NICK PSYLLOS
CA Lic. #00788060
HFF Senior Managing Director
(858) 552-7690

ANDREW BRINER
CA Lic. #01821872
HFF Managing Director
(310) 407-2100

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420

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