A four-building, 69,530-square-foot industrial park in San Ysidro has been sold to Los Angeles-based Partners Capital Inc. for $15 million.
CBRE’s Matt Harris and Matt Pourcho represented the seller, Border Business Center LLC, in the transaction.
The seller had received an unsolicited offer, but CBRE secured another buyer willing to pay a “significantly higher price,” Pourcho said, on the properties at 464, 494, and 524 West Calle Primera and 2325 Via Tercero.
“Industrial products remain strong in San Diego, and we only see fundamentals improving,” added Pourcho, an executive vice president at CBRE. Our access to quick-close private capital continues to pay off for owners looking to sell at a premium.”
The property, the Border Commerce Center, is fully leased and features 51 suites, averaging 1,200 square feet.
Officials from Partners Capital said that “San Diego has long been a destination” for the firm.
“Properties of this scale are difficult to come by in Southern California,” said Ryan Adjnasian, vice president of Partners Capital, explaining that it was an ideal investment due to several factors, including unit size.
