100% leased multi-tenant asset optimally located in thriving San Ysidro submarket
SAN DIEGO, Calif. – September 25, 2024 – Cushman & Wakefield announced the firm has advised the sale of a freestanding 105,469-square-foot light industrial building in the San Ysidro submarket of San Diego, California. Known as the Trolley Industrial Center, the multi-tenant property located at 1330 30th Street is situated on ±5.10 acres and is fully leased to a diverse roster of three tenants.
The property was acquired by GID Industrial Acquisition for $27.25 million. The seller was Washington Capital Management on behalf of their clients.
Cushman & Wakefield’s Bryce Aberg, Jeff Chiate, Jeffrey Cole, Matthew Leupold, and Ryan Demerest of the firm’s National Industrial Advisory Group-West represented the seller.
“Trolley Industrial Center is a strong value-add industrial asset in San Diego’s South County that is 100% leased to a highly diversified tenant mix with investment grade credit. San Ysidro’s positive market fundamentals, including tight vacancy and ongoing rent growth, together with the property’s exceptional maintenance and quality and financial profile, make this a choice industrial investment in one of San Diego’s most sought-after submarkets,” said Bryce Aberg, Vice Chair.
“The property’s tenant roll provides a distinguished corporate image, stable cash flow, and attractive lease terms with staggered expirations. Looking ahead income stability is further balanced with the potential mark-to-market opportunity to enhance value in a submarket with consistently strong tenant demand, and with a building that caters to the important mid-sized industrial segment,” added Jeff Chiate, Executive Vice Chair.
Originally built in the mid-1980s but renovated since, Trolley Industrial Center features functional divisibility with a variety of bay sizes, 24’ clear height, and grade and dock-high loading doors. The property also boasts an optimal location strategically positioned near multiple freeways, including I-5, I-805, SR-905 and SR-125. Additionally, the location has direct access to the U.S./Mexico border points of entry, and several airports, providing unique regional, national and international access.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
