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Robert D. Bendetti Of The Bendetti Company Acquires Industrial Property From James O. Buckingham For $16.2M

Property Image
SOLD
$16,200,000

California

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Industrial72,158 SF
Sold 06/12/2025
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Property Image
SOLD

Robert D. Bendetti Of The Bendetti Company Acquires Industrial Property From James O. Buckingham For $16.2M

9605 Airway Road

See Similar Deals
Industrial72,158 SF
Sold 06/12/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$224
Total Square Footage:72,158 SF
Transaction Type:Sale

A 72,158 square foot industrial property located at 9605 Airway Road in San Diego was sold for $16,200,000. The asset spans across 3.9 acres and is situated in the Otay Mesa area. At the time of sale, it was 50% leased.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: $16,200,000
  • Address: 9605 Airway Road
  • Market: San Diego
  • Acres: 3.9
  • Square Footage: 72,158
  • Price Per Square Foot: $225
  • Buyer: Robert D. Bendetti - The Bendetti Company
  • Seller: James O. Buckingham - TA Realty

This transaction signifies a strategic move by Robert D. Bendetti to enter the San Diego market. The acquisition underscores a focus on expanding operations amid current market conditions characterized by increasing vacancies and decreasing rents.

Players

RB
Robert D. Bendetti
3 deals$106.2M volume
BUYER
TC
The Bendetti Co
BUYER
TA Realty
TA Realty
SELLER
TA Realty
TA Realty
SELLER

Details

SOLD
IMAGE: Robert D. Bendetti & James O. Buckingham DATE: 06/12/2025 ADDRESS: 9605 Airway Road MARKET: San Diego ASSET TYPE: Industrial ~ ACRES: 3.9 BUYER: Robert D. Bendetti - The Bendetti Company SELLER: James O. Buckingham - TA Realty SALE PRICE: $16,200,000 SF: 72,158 ~ PPSF: $225 NOTE: The Bendetti Co. entered the San Diego market with the $16.2M acquisition of a 72,158 SF multi-tenant industrial property at 9605 Airway Rd. in Otay Mesa from TA Realty. The asset, 50% leased at sale, marks Bendetti’s strategic expansion amid a cooling industrial market with rising vacancies and falling rents.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$864,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$57,555.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,796.26
Annual Debt Service$921,555.18