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California  + San Diego  + Industrial  | 

Core San Diego Industrial Facility Sells for $25M

A 135,000-square-foot single-tenant facility at 2710 Progress St. in Vista, CA has sold for more than $24.7 million. The core industrial asset, which is fully-leased to longstanding tenant Captek Softgel International, was divested by 2710 Progress Street, LLC. The unnamed buyer was a leading global real estate investment firm.

Situated on 4.65 acres, the facility is an efficiently-designed building consisting of office, lab, manufacturing and warehouse space. The building features 28-foot clear-heights, five shipping and receiving bays, a large truck court, and critical truck ingress and egress.

Cushman & Wakefield’s Aric Starck and Barry Hendler represented the seller, while the buyer was self-represented.

Starck says, “Core industrial assets remain white hot, as many institutional investors have mandates for higher industrial allocations in their portfolios and are struggling to source quality assets. The property’s in-place NNN lease structure provides great long-term, stable cash flow, while the tenant’s own capital commitment suggests a very high renewal probability.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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