Updated Dec 4, 2024
T&S Properties Acquires San Diego's Empire Center Industrial Property For $34.58M
7880 Airway Road & 7920 Airway Road
$34,580,000
$130/SF
Building Size
132,667 SF
Asset Type
Industrial
Closing
Oct 18, 2023
About this deal
AI
T&S Properties has purchased San Diego's Empire Center, a 132,667-square-foot industrial property, for $34.58 million from TA Realty. The property, located at 7880 Airway Road & 7920 Airway Road in San Diego, offers 24-foot clear heights and is nearly fully occupied by 16 tenants. Built in 1999, this industrial asset provides a prime investment opportunity in the San Diego market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $34,580,000
- Square Footage: 132,667
- Price per Square Foot: $261
- Address: 7880 Airway Road & 7920 Airway Road, San Diego
- Market: San Diego
- Buyer: T&S Properties
- Seller: TA Realty - James O. Buckingham
- Broker: Kidder Mathews
T&S Properties, represented by their broker Kidder Mathews, sourced this investment opportunity through their purchase from TA Realty. The industrial property's near-full occupancy by 16 tenants signifies its desirability and potential for a steady income stream. With 24-foot clear heights, this property caters to the needs of various industrial businesses in the San Diego area, further contributing to its investment value.
On the Map
$34,580,000
$130/SF
Industrial
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Players
San Diego Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93