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7880 Airway Road

T&S Properties Acquires San Diego's Empire Center Industrial Property For $34.58M
SOLDIndustrial

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

265,334 SF

Asset Type

Industrial

Closing

Oct 18, 2023

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.

Players

James Buckingham

TA Realty

Seller

$870.8M

vol

11 deals

Seller

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