San Diego-based Parallel Capital Partners acquired Rose Canyon Business Park and The 5 & 52 Business Park in two separate transactions. The two acquisitions represent an investment of more than $100 million across 300,000 square feet of prime industrial space.

In April 2025, Parallel acquired Rose Canyon Business Park, located at 4901-4907 Morena Blvd., a 15-building, multi-tenant industrial park totaling approximately 234,000 square feet. The project is currently 85% leased.

Parallel also acquired the 5 & 52 Business Park, located at 5965 and 5975 Santa Fe St., which includes two industrial buildings totaling 71,597 square feet on 4.17 acres. The project, acquired 100% vacant last November, offers significant value-add potential.

“These acquisitions reflect our commitment to investing in assets with strong fundamentals and limited supply,” said Matt Root, co-founder and CEO of Parallel Capital Partners. “We believe the current dislocation in the capital markets has created a rare window to acquire high-quality assets at compelling values, and we are excited to reposition these properties to meet the growing demand for modern, small bay industrial space in San Diego.”