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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
- ◦Sale/Acquisition


