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January 10, 2018

San Diego-Area Industrial Asset Trades for $3M

Commercial Property Executive

Beata Lorincz

The roughly 20,000-square-foot industrial building is located within the Greater San Diego area. Kidder Mathews negotiated the transaction on behalf of the buyer, a local private investor.

Gieger Court LLC has sold a 19,504-square-foot industrial building in Vista, Calif., for $3.5 million. Kidder Mathews brokered the off-market transaction on behalf of the buyer, a local private investor.

Located at 1221 Liberty Way, the industrial property is situated an hour's drive from downtown San Diego, while Los Angeles is a two-hour drive away. The property is part of the area's well-developed business park on the southern outskirt of Vista, with the McClellan-Palomar Airport only 3.5 miles from the site.

OFF-MARKET SALE
Kidder Mathews' team of commercial real estate brokers included Joe McDermott and Jeffrey Crocker.

"The sale of 1221 Liberty Way was an off-market leased investment transaction," said Crocker in prepared remarks. "There is a great deal of competition for quality industrial properties in today's market, and investors need to be ready to act quickly when an opportunity is uncovered that aligns with a buyer's investment strategy."

In December last year, Kidder Mathews provided leasing market expertise on another West Coast industrial transaction. North Creek Parkway Center, a 215,950-square-foot, Class A flex park located in the suburban Seattle area, traded for $36.5 million.

For the full story, go to Commercial Property Executive.

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