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Otay Condo LLC Acquires Industrial Portfolio In San Diego For $13.11M With Brokers Matt Harris & Matt Pourcho
SOLD
$13,110,000
California
See Similar DealsIndustrial109,272 SF
Sold 04/16/2025
SOLD
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
See Similar DealsIndustrial109,272 SF
Sold 04/16/2025
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$120
Total Square Footage:109,272 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$699,199.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,577.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,148.09
Annual Debt Service$745,777.06
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