Realterm announces the acquisition of a 19,500-square-foot cross-dock warehouse located at 1392 Engineer Street, Vista, CA. The building sits on 3.85 acres and has a combination of 50 dock-high and ground level doors.
“This highly functional warehouse is ideally located in the San Diego region which is expanding rapidly and has one of the healthiest economies in the nation,” said Blair Duncan, Associate Vice President, Western Region Acquisitions. “With a long-term tenant and efficient layout, this property adds geographic and tenant diversity to our portfolio and is a high-quality asset that offers excellent functionality for final mile distribution.”
The warehouse has an efficient combination of dock-high loading positions and drive-in doors that provide a well-organized layout for high flow-through users. It can conveniently service the greater San Diego market with easy access to I-78, I-15 and I-5 and all major thoroughfares to San Diego County, South County, Orange County and Northern California. San Diego is home to approximately one and a half million people and is the second biggest California city and one of the 10 largest cities in the country, making this space especially valuable. Additionally, the property has a long-term lease with a national tenant.
The property also features include 52 parking spaces for employees and customers and 79 trailer spaces. The facility has a reception area, two private offices, a conference room, telecommunications room, storage room dispatch office, large break room and additional storage room.
“This transaction is another example of our strategy to acquire unique truck terminal investments in top industrial markets with favorable supply/demand fundamentals. Additionally, we are pleased to expand our longstanding partnership with the facility’s tenant,” said Steve Panos, Senior Vice President, Fund and Asset Management.
Highlights of the property include:
- Square feet: 19,500 SF
- Land area: 3.85 acres
- Doors: 50 loading positions
- Access: I-78, I-15 and I-5
Steve Sprenger and Randy Lockhart of Newmark facilitated the transaction.