
Logistics Firm Lands Rancho Bernardo Final Mile Facility for $60.5M
Annapolis, MD-based Realterm Logistics acquired Bernardo Mesa Technology Center, a 180,946-square-foot warehouse in San Diego, from a joint venture between Chicago-based Walton Street Capital and Orange County-based Greenlaw Partners for $60.5 million. Located on a 14.8-acre site at 16550 Via Esprillo in the Rancho Bernardo submarket, the final-mile distribution facility is 100% leased to an undisclosed global e-commerce company.
Realterm Logistics’ Paul Underwood says, “This property is one of the best examples we have seen of the e-commerce backbone necessary to support direct to consumer delivery.”
CBRE Capital Markets’ Louay Alsadek, Darla Longo, Barbara Perrier, Michael Kendall and Hunter Rowe served as investment advisors on the deal.
Alsadek says, “Single-tenant industrial projects of this size and quality are rare investment opportunities in San Diego. Given its location in a prominent tech submarket and the stature of the credit tenant, Bernardo Mesa Technology Center generated significant interest from investors.”
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