CBRE Facilitates $17.15 Million Sale of Multi-Tenant Industrial Building

CBRE negotiated the sale of 8250-8260 Camino Santa Fe in San Diego, Calif., for $17.15 million ($282 per sq. ft.). CSF LLC purchased the multi-tenant property.

Matt Pourcho, Anthony DeLorenzo and Matt Harris of CBRE's Investment Properties represented Hill Properties and Westport Capital Partners, the seller, in the transaction.

“We continue to find out of town high net worth capital as the most aggressive buyer pool in San Diego,” said Mr. Pourcho, executive vice president, CBRE. “This buyer was looking for a stable secure cash flowing property and it was a perfect fit.”

The two-building property sits on 3.66 acres in western Miramar. Together, the buildings total 60,866 sq. ft. Eight tenants currently lease space in the buildings (96% occupancy at the time of sale).

Built in the late 1980s, the party has recently undergone extensive capital improvements, including new exterior paint, suite and directional signage, monument signage, parking lot resurfacing and new landscaping.

Chirs Nelson with Matthews Real Estate and Brian Reyes of Tangram Commercial represented CSF LLC in the transaction.