Steel Peak And RPG Acquire Industrial Property At 9606 Aero Drive San Diego For $12.1M
9606 Aero Drive
$12,100,000
$312/SF
Building Size
38,704 SF
Asset Type
Industrial
Closing
Aug 20, 2024
AI
9606 Aero Drive is an industrial flex-office property located in San Diego, encompassing 38,704 square feet on 4.27 acres of industrial land specifically zoned for outdoor storage. The transaction was completed for a sale price of $12,100,000, translating to approximately $312 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,100,000
- Address: 9606 Aero Drive
- Market: San Diego
- Square Footage: 38,704
- Price Per Square Foot: $312
- Buyer: Blake Rodgers & Pasha Johnson - Steel Peak; Adam Robinson - RPG
- Seller: Gusto Holdings
- Buyer’s Representatives: Kurtis Blanchard & Evan McDonald - Colliers
A joint venture between Steel Peak and RPG facilitated the acquisition of the property, which is set to undergo a transformation from a Class A office headquarters into a strategically located industrial outdoor storage facility in Central San Diego County.
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
1.31%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93