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8888 Balboa Avenue

Rexford Industrial Realty Trust Leases 123492 Square Foot Warehouse In San Diego
LEASEDIndustrial

Rexford Industrial Realty Trust Leases 123492 Square Foot Warehouse In San Diego

8888 Balboa Avenue

Building Size

123,492 SF

Asset Type

Industrial

Closing

Oct 3, 2025

AI

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:

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

Players

Evan McDonald

Colliers

Broker

$174.6M

vol

14 deals

Broker
Colliers
ColliersBrokerage
Howard Schwimmer

Howard Schwimmer

Rexford Industrial

Landlord

$3B

vol

30 deals

Landlord
Rexford Industrial
Rexford IndustrialLandlord

San Diego Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93