Realterm announced today the acquisition of a 104,510-square-foot highly functional industrial distribution facility located at 7995 Armour Street, San Diego, California. The 10-acre property is 10 miles north of downtown San Diego and has 16 loading positions.
The newly renovated facility is located in Kearny Mesa, San Diego’s most sought-after industrial submarket. Comprised of one industrial building, the property features concrete tilt up construction, well designed ingress/egress, efficient warehouse and office layouts, dock and grade loading capabilities, and ample parking.
“This is a continuation of our strategy to acquire the best final mile facilities in the top metropolitan areas where market fundamentals are projected to outperform the broader U.S.,” said Stephen Panos, Senior Vice President, Fund and Asset Management, Realterm. “It was an attractive offering and a perfect addition to the Realterm Logistics Income Fund portfolio.”
The facility is ideally situated along the state route 163, providing seamless access to San Diego’s major thoroughfares and the region’s freeway infrastructure via I-15 and I-805 located just a few blocks away.
“Kearny Mesa is the gold standard of infill San Diego industrial real estate,” said Blair Duncan, Associate Vice President, West Region Acquisitions, Realterm. “This building has differentiated functionality with final mile access to highly affluent population centers.”
Highlights of the property include:
Square feet: 104,510 SF
Land area: 10 acres
Loading positions: 16
Access: I-15 and I-805
The facility is fully leased to the world’s largest multi-national online retailer. Cushman & Wakefield facilitated the transaction.
Photos of the facility can be found here and credited to Cushman & Wakefield.
Realterm is a real estate operator with a 30-year track record of executing niche private equity strategies at the intersection of the global supply chain and evolving consumption trends. Realterm currently manages over $9 billion in assets through five logistics-oriented private equity fund series: Realterm Airport Logistics Properties (RALP), an open-end fund investing into high flow-through (HFT) on-airport logistics real estate throughout North America; Realterm Logistics Income Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) series, a closed-end, value-added fund series, both of which invest into HFT surface transportation logistics real estate throughout the U.S.; Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series investing into HFT logistics real estate throughout Europe; and Interspace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.