San Diego Business Journal’s Best Real Estate Deals of the Year celebrates the deals and dealmakers, but also the people who create the demand, underwrite dreams and bring visions to life – tenants, investors, financiers, civic leaders, architects, designers and construction companies. This year’s event will take place on Wednesday, April 18.
Realterm acquired the 180,000 square-foot final mile distribution facility, with a new 10-year lease in place to a leading global e-commerce company, for an undisclosed amount.
“This property is one of the best examples we have seen of the e-commerce backbone necessary to support direct to consumer delivery,” said Paul Underwood, Senior Vice President of Realterm Logistics.
The recently renovated property is situated on 14.8 acres. The low site coverage provides a significant additional area for parking & staging of delivery vehicles as well as a future building expansion.
“The online sales evolution requires a network of regional and final mile facilities to capture this shift in consumer trends while at the same time, minimizing the delivery cost structure for users,” said Underwood. “The property achieves that through proximity to I15 and CA-56, providing efficient access to a dense affluent residential population. In addition, the property is expandable and configured with the loading, excess parking and delivery vehicle flow characteristics demanded by e-commerce logistics users today.”
Realterm Logistics also owns 6930 Cactus Court, 6855 Calle De Linea, 2420 Bowsell Road, 2719 Kurtz Street, and 2727 Kurtz Street in San Diego.
About Realterm Logistics
Realterm Logistics (http://www.realtermlogistics.com/) is a vertically integrated owner and manager of high flow-through (HFT) logistics facilities serving the transportation industry. Realterm Logistics is a subsidiary of Realterm, a private equity investment firm and development company focused on logistics and infrastructure assets with approximately $3.5 billion in assets under management across more than 300 operating and development investments in the U.S., Canada, Europe and India. Realterm’s investment strategies include Realterm Logistics (surface transportation logistics real estate), Aeroterm (on-airport logistics real estate) and IndoSpace Logistics Parks (India’s leading industrial developer).