SAN DIEGO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Bekaert Specialty Films I, (top right photo) a 48,203-square foot industrial warehouse in San Diego.
The sales price of $10.55 million represented $219 per square foot.
Joshua Volen, an associate vice president investments in the San Diego office of Marcus & Millichap, and Andrew John Slade, an investment specialist also in the firm’s San Diego office, represented the seller, HPC Properties. Chris Sands, a senior associate in the firm’s Encino office, represented the buyer.
“This property was an excellent opportunity for the buyer to acquire an ease-of-management industrial wareh
ouse with an investment-grade tenant in the tightening Central San Diego submarket,” says Slade. Located at 4520 Viewridge Ave., the flex building is situated on 2.24 acres.
Built in 2002, the building was constructed to accommodate Bekaert’s growing commitment to its headquarter location for its Specialty Films Manufacturing division. Bekaert has six years remaining on a triple-net lease structure with 3 percent annual increases. The tenant has one five-year option to extend at the end of the base term at fair market value.
Press Contact: Stacey CorsoCommunications Department
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