CBRE, acting on behalf of SANDAG (San Diego Association of Governments), successfully sold two industrial buildings located at 5965 and 5975 Santa Fe St. in San Diego for $14.5 million to Parallel Capital Partners. The team from CBRE involved in the transaction included Matt Carlson, Hunter Rowe, Camille Doan, Brian Hutcherson, Barbara Perrier, Mike Longo Joe Cesta and Eric Cox who provided advisory services to the sellers. This was the first time these properties were made available for sale.
According to Rowe: “The demand for well-located industrial spaces with smaller bay sizes is high among investors in San Diego.” The property covers an area of 4.17 acres in Rose Canyon’s industrial submarket and was vacant at the time of closing escrow. Previously occupied by Karl Strauss Brewing Company and SANDAG themselves.
SANDAG had acquired these assets back in 2017 with funding assistance from Federal Transit Administration as part of their efforts towards facilitating construction work on Mid-Coast Trolley extension project.
