Via Frontera Goes from Hill’s Radar to Buy Column
San Diego-based Hill Properties recently acquired the Via Frontera Business Park, an 80,900-square-foot property comprising two industrial/R&D flex buildings in the suburban submarket of Rancho Bernardo in San Diego. The multi-tenant property was 100 percent leased at the time of sale and sold in an off-market deal for $17.5 million.
Hill Properties plans improvements to the property’s exterior including signage, landscaping and amenities. The seller was Xpress Data Inc., which agreed to leaseback 41,000 square feet it will continue to occupy within the park.
Philip Roberts with Cushman & Wakefield worked with both parties in the transaction.
“We have been focused on low-rise technology-oriented buildings in the I-15 corridor and this project has been on our radar for a long time. We look forward to making the project one of the most well-recognized buildings in the submarket,” said Jason Hill of Hill Properties.
Spanning the addresses 10965 to 10993 Via Frontera Dr., Via Fontera Business Park consists of two single-story buildings on a single parcel of 6.21 acres.
- ◦Sale/Acquisition