CBRE has arranged the sale of Kearny Mesa West, a 210,871-square-foot, multi-tenant industrial business park in San Diego, on behalf of CIM Group. The buyer, H.G. Fenton, acquired the property for an undisclosed price, adding a large, nearly fully occupied industrial asset to its portfolio. The transaction underscores ongoing investor interest in infill industrial product in central San Diego.
The Kearny Mesa West business park spans 14 acres and is composed of 16 standalone industrial buildings. The project is situated along Opportunity Road, Engineer Road and Ronson Road in San Diego’s Kearny Mesa district, providing access to central San Diego and serving a diverse industrial tenant base. At the time of sale, the park was approaching 90% occupancy and housed nearly 60 tenants, reflecting broad demand across a range of suite sizes and uses.
CBRE’s investment sales team of Hunter Rowe, Joe Cesta, Eric Cox and Matt Carlson represented CIM Group in the transaction. Their assignment involved marketing a stabilized, multi-building industrial park with a mix of long-standing and varied tenants. The property profile aligns with investor appetite for multi-tenant industrial product that offers income diversification through a large roster of smaller users.
Rowe noted that central San Diego’s industrial market continues to attract capital, citing leasing fundamentals that support both near-term and long-term growth expectations. He pointed to Kearny Mesa West’s diverse and entrenched tenant roster as an example of the kind of asset profile being actively pursued by investors in today’s environment. Strong occupancy levels at the time of sale further highlighted the durability of tenant demand in this location.
Cesta added that CBRE is observing substantial activity and significant bid depth across the Western U.S. for multi-tenant industrial parks, and indicated that Kearny Mesa West drew similar competitive attention. The robust buyer interest evident in this sale suggests that investors remain focused on multi-tenant industrial product, particularly in established infill submarkets with strong transportation connectivity.
The Kearny Mesa West project features flexible suite sizes and multiple grade-level loading positions, enabling it to accommodate a range of industrial users and operational needs. Convenience to central San Diego enhances its appeal for tenants that value proximity to customers, labor and regional transportation corridors. While financial terms of the transaction were not disclosed, the marketing commentary around activity levels and investor focus positions this sale as part of a broader pattern of demand for multi-tenant industrial parks across the Western U.S.
