Matt Root Of Parallel Capital Partners Acquires Industrial Property From San Diego Association Of Governments For $14.5M

The transaction involved the sale of two vacant industrial buildings located at 5965 and 5975 Santa Fe Street in the San Diego market. The total sale price was $14,500,000, with the properties encompassing a combined square footage of 72,769 and a price per square foot of $199. The total site area of the properties is 4.17 acres, situated in a prime location within the Rose Canyon submarket, which features a historically low vacancy rate of 1.7%.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $14,500,000
• Address: 5965 & 5975 Santa Fe Street
• Market: San Diego
• Total Square Footage: 72,769
• Price Per Square Foot: $199
• Total Acres: 4.17
• Buyer: Matt Root - Parallel Capital Partners
• Seller: San Diego Association of Governments
• Broker Representatives: Barbara Perrier, Brian Hutcherson, Camille Doan, Eric Cox, Hunter Rowe, Joe Cesta, Matthew Carlson & Michael Longo - CBRE

CBRE facilitated the transaction on behalf of the San Diego Association of Governments, showcasing the collaborative efforts of multiple brokers in this deal. The properties are viewed as ideal candidates for rebranding and reinvigoration, benefiting from their strategic location and the dynamics of the Rose Canyon submarket.