El Cajon Industrial Trades for $16M

Boston-based Cabot Properties has acquired a 150,159-square-foot San Diego County industrial building for approximately $16 million. The property, located at 2025 Gillespie Way in the city of El Cajon, sold at 73-percent leased to two current tenants.

A CBRE team of Louay Alsadek, Hunter Rowe, Darla Longo, Barbara Perrier and Rebecca Perlmutter represented the seller, a private local investor; with a CBRE team of Sean Williams and Erik Parker working on the leasing.

The building was originally built in 1999 as part of the 65-acre Gillespie Field Business Park, a master-planned park, centrally located within two miles of four major San Diego freeways: I-8, SR 52, SR 67 and SR 125, and adjacent to San Diego’s Gillespie Field airport.

“This asset is ideally suited for the booming e-commerce industry, due to its prime distribution location and access to 2.5 million people within 20 miles of the property,” noted CBRE’s Alsadek.

For comments, questions or concerns, please contact Chris Egger