Otay Condo LLC Acquires Industrial Portfolio In San Diego For $13.11M With Brokers Matt Harris & Matt Pourcho
8580 Avenida De La Fuente & 1641 Pacific Rim Court
$13,110,000
$120/SF
Building Size
109,272 SF
Asset Type
Industrial
Closing
Apr 16, 2025
AI
An industrial portfolio located in San Diego has been sold for $13,110,000. The asset consists of two multi-tenant buildings and 10 industrial condos, totaling 54,636 square feet. This transaction highlights the market activity in the San Diego area, specifically within the submarket of Otay Mesa, recognized for its limited small-bay industrial supply.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $13,110,000
- Square Footage: 54,636
- Price Per Square Foot: $240
- Address: Industrial Portfolio
- Market: San Diego
- Buyer: Otay Condo LLC
- Brokers: Matt Harris & Matt Pourcho - CBRE
CBRE facilitated the off-market sale of the industrial portfolio to Otay Condo LLC, a private buyer utilizing a 1031 exchange. The transaction involves multiple properties located across three sites in Otay Mesa.
San Diego Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.21%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93