Rexford Industrial Realty Trust has leased a newly built warehouse located at 8888 Balboa Avenue in San Diego, covering an area of 123,492 square feet. This marks a significant milestone as the largest new industrial lease in Central San Diego in recent years. The market reflects ongoing demand for modern logistics space, even as the countywide vacancy rate has reached 7.8% due to recent oversupply.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not specified
• Address: 8888 Balboa Avenue
• Market: San Diego
• Square Footage: 123,492
• Landlord: Howard Schwimmer - Rexford Industrial
• Broker: Evan McDonald - Colliers

Evan McDonald of Colliers represented the landlord in this lease transaction, which emphasizes the strong demand for modern infill logistics space in the region.