CBRE Brokers $13.7 Million Sale of Industrial Property in San Diego’s Interstate 15 Corridor to 1031 Buyer

CBRE has facilitated the $13.7 million sale of a freestanding, 46,936-square-foot industrial property at 12375 World Trade Drive in San Diego, Calif., to a 1031 buyer, Peer Properties-2 LLC.

CBRE’s Matt Pourcho, Sean Williams, Bill Dolan, Ryan Sparks and Anthony DeLorenzo represented the seller, ALFA Partners LLC, in the transaction.

"This was quite a bidding war with multiple offers from different buyer profiles, such as traditional investors, 1031 buyers, as well as owner-users. Ultimately, we sold the property to a 1031 buyer. While there was only a short-term lease in place, there is ample time to find a replacement tenant, and we only see this location growing, especially given the new Apple campus close by," said Pourcho, executive vice president at CBRE.

The property features office space, a minimum clear height of 24 feet, heavy power, five oversized grade-level loading doors and a dock well with two dock loading positions.

Situated in the heart of the Interstate 15 (I-15) Corridor’s largest retail hub, the property offers a strategic location less than one mile from I-15, providing excellent access to over 1.2 million square feet of retail amenities.