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| Photo by Bill Robinson Photography Siempre Viva Business Park, Otay Mesa Submarket, San Diego, CA |
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| Nick Frasco |
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.
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| Nick Psyllos |
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.”
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| Andrew Briner |
Clients, tenants, and partners consider IDS one of the finest comprehensive real estate service providers in the nation.
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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