San Diego, CA
CBRE Brokers 232,863-Sq.-Ft. Business Park in San Diego
April 7, 2023
Media Contact
Communications Manager
CBRE arranged the sale of Rose Canyon Business Park, a 232,863-sq.- ft.-multi-tenant industrial park in Central San Diego at 4901- 4907 Morena Blvd.
Phillip Linton of the CBRE Capital Markets Division in San Diego represented the buyer, Vertical Ventures. The seller was represented by Cushman & Wakefield.
Vertical Ventures is an established investor, developer and operator of institutional quality commercial real estate assets and has actively acquired multi-tenant industrial parks.
"We believe that maintaining a supply of workspace for small business is both critical to local economies and a strong investment strategy," said Vertical Ventures' Senior Vice President Mark Heavey.
The Rose Canyon Business Park is the fifth multi-tenant industrial park sourced for Vertical Ventures by Mr. Linton. The property's 15 buildings are spread across 38.12 acres. The business park was built in the late 1970s through the 1980s and has recently undergone external renovations. The property is at 99.52% occupancy and offers suites ranging from 500 to 5,000 sq. ft.
"This park fits perfectly into Vertical Ventures' multi-tenant business park portfolio. The high tenant demand and low vacancy in the Rose Canyon area will continue to drive rent growth for this space," added Mr. Linton.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Founded in 2004, Vertical Ventures is an established, highly- focused investor, developer and operator of institutional quality commercial real estate assets in the Denver West and Texas markets. The firm concentrates on identifying, acquiring and revitalizing well-located, quality assets that are temporarily undervalued. The professionals of the firm average nearly 20 years’ experience transacting and operating real estate and generating attractive investment returns from both institutional and entrepreneurial platforms with in-house acquisitions, asset management, accounting/finance, and capital markets teams.