HFF closes $19.3 million sale of industrial facility in the Otay Mesa submarket of San Diego, California
SAN DIEGO, CA – June 5, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $19.3 million sale of a 205,800-square-foot, fully-leased industrial facility in south San Diego within close proximity to the Otay Mesa Port of Entry at the U.S./Mexico international border.
HFF marketed the property on behalf of the seller. STAG Industrial, Inc. purchased the asset free and clear of existing debt.
Situated on 11.65 acres, 2055 Dublin Drive is an industrial / manufacturing building that is fully leased to three tenants: Honeywell International, Inc.; Cubic Corporation; and SigmaTron International, Inc. The building features 24-foot clear heights, 29 loading doors and an above-standard 2.0:1,000 parking ratio. The facility is 1.5 miles from the privately operated Otay Mesa Cross Border Xpress bridge and 4.7 miles from the Otay International Border crossing into Tijuana, Mexico. Additionally, the property is just off the Otay Mesa Freeway and has access to Interstates 5, 8, 15 and 805.
The HFF investment sales team representing the seller was led by director Nick Frasco and senior managing director Nick Psyllos.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust (REIT) focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. The company’s portfolio consists of 294 properties in 37 states with approximately 57 million rentable square feet. For additional information, please visit the company’s website at stagindustrial.com.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.