Matt Root Of Parallel Capital Partners Acquires Rose Canyon Business Park From Hamid Rezapour For $67M

The asset involved in the transaction is a 234,000 square foot industrial property located at 4901-4907 Morena Blvd in the San Diego market. The property was acquired for a total sale price of $67,000,000, which translates to approximately $286 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $67,000,000
• Buyer: Matt Root - Parallel Capital Partners
• Seller: Hamid Rezapour - Vertical Ventures
• Square Footage: 234,000 SF
• Price Per Square Foot: $286

Matt Root represents Parallel Capital Partners in this acquisition, while Hamid Rezapour represents Vertical Ventures. Following this transaction, Parallel Capital Partners plans to invest an additional $5,000,000 in renovations and is focusing on small bay industrial assets due to favorable market conditions. This acquisition comes shortly after their $14.5 million purchase of the adjacent 5 & 52 Business Park in November.