SANDAG Sells Infill Industrial Duo to Parallel Capital Partners

CBRE, on behalf of the San Diego Association of Governments (SANDAG), facilitated the sale of two freestanding industrial buildings at 5965 and 5975 Santa Fe St. in San Diego to Parallel Capital Partners for $14.5 million. The firm’s Matt Carlson, Hunter Rowe, Camille Doan, Brian Hutcherson, Barbara Perrier, Mike Longo, Joe Cesta and Eric Cox advised the sellers. This was the first time the building has been available on the open market.

“The opportunity to reinvigorate and rebrand the well-located industrial product, particularly in the smaller bay space, is highly desirable and what capital is aggressively pursuing in San Diego,” said Rowe.

Situated on 4.17 acres in the Rose Canyon industrial submarket of San Diego, the rare infill and coastal industrial project was vacant at the close of escrow. Karl Strauss Brewing Company and SANDAG previously occupied the property.

SANDAG acquired the assets in 2017 with Federal Transit Administration funding participation to help facilitate the Mid-Coast Trolley extension construction project.

Michael Brennan will receive Connect CRE’s Lifetime Achievement Award and will participate in the Keynote Interview with Kevin Brennan, also of Brennan Investment Group. Join us at Connect Industrial Midwest 2025 on the afternoon of Wednesday, March 5, at Joe’s Live in Rosemont, IL, for this exclusive presentation!