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January 12, 2017

These Were the Biggest Industrial Deals of 2016

San Diego Business Journal

Lou Hirsh

San Diego County's industrial property market ended 2016 with a historically low 5.1 percent vacancy rate, according to the latest quarterly data from CoStar Group.

The vacancy rate for the warehouse segment was even lower, at 4.2 percent, with overall space demand recently rising among numerous industries, including e-commerce, biotechnology and defense.

There were among the region's top 2016 property purchase and lease deals reported by CoStar Group:

Industrial Property Purchases:

  • Torrey Ridge Science Center, Torrey Pines -- $182.5 million (Buyer: Alexandria Real Estate Equities Inc.; Seller: Walton Street Capital LLC)
  • Hewlett-Packard Campus, Rancho Bernardo -- $69 million (Buyer: Swift Real Estate Partners; Seller: Hewlett-Packard Co.)
  • Carlsbad Pointe, Carlsbad -- $57.4 million (Buyer: Bank of America; Seller: Griffin Capital Corp.)
  • 8409-8511 Kerns St., Otay Mesa -- $45.2 million (Buyer: IDS Real Estate Group; Seller: Clarion Partners)
  • Cohu Headquarters, Poway -- $34 million (Buyer: CT Realty Investors; Seller: Cohu Inc.)
  • Industrial Leasings (Tenant Square Footage):
  • Illumina Inc., full i3 campus at UTC - 316,262 square feet (Tenant broker: Cushman & Wakefield; Landlord broker: JLL)
  • General Atomics Aeronautical Systems, Poway - 152,000 square feet (Landlord broker: Kidder Mathews)
  • Hybrid Promotions LLC, Otay Mesa - 134,000 square feet (Tenant broker: Commercial Properties Group; Landlord broker: NAI San Diego)
  • Triumph Fabrications, El Cajon - 110,663 square feet (Landlord broker: Inland Pacific Commercial)
  • BAE Systems, Chula Vista - 110,295 square feet (Tenant broker: Cresa; Landlord broker: Voit Real Estate Services)

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