HFF secures $4.1 million in joint venture equity for industrial acquisition near San Diego, CA

John Chun

IRVINE, CA – HFF announced it has secured $4.1 million in joint venture equity for the acquisition of Southrail Business Park, eight multi-tenant industrial buildings totaling 128,294 square feet in Chula Vista, California.

               HFF worked on behalf of the buyer, Focus Real Estate LP, in arranging the joint venture equity with a regional joint venture equity fund.  Equity proceeds were used to purchase the property.

               Southrail Business Park is an industrial flex facility located in south San Diego County approximately 10 minutes from downtown San Diego.  The park is half a mile from I-5, which provides easy access to I-805 and I-905.  It is also within walking distance to the nearest trolley station and neighboring retail. 

Building features include dock-high and grade-level loading, professional landscaping, street frontage and visibility and no through traffic due to the cul-de-sac. 

Southrail’s eight buildings are 98 percent leased to 26 tenants, including PowerSports Group, Toleeto Fasteners Intl, Delphius Engineering and Bay Bridge Brewery.              

The HFF team representing Focus Real Estate was led by director John Chun.

“Southrail Business Park represented a rare opportunity to acquire a high-quality industrial park in one of the tightest industrial markets in San Diego county with strong barriers to entry due to a lack of developable land parcels,” Chun said.

Richard Ortwein

Focus Real Estate LP, founded in 2000, is headed by real estate executives Richard Ortwein, Michael Ortwein and Jack Kappe. The company’s primary focus is working with owners, investors and users to identify, acquire, and oversee all aspects of value-add investment and development. 

Focus Real Estate has acquired or developed over 1.5 million square feet in 50+ office and industrial buildings in Southern California with private and institutional investors.  Focus draws upon the deep experience of its partners who have a combined 80+ years of experience and have acquired or developed over $2.5 billion in real estate during their careers.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com