San Diego, CA., December 9, 2021 – Colliers recently announced the sale of a 3.56 Acre industrial parcel in Central San Diego’s Industrial district of Miramar. Representing the buyers, Lincoln Property Company (LPC) West, Inc., & Brasa Capital Management, Colliers’ Senior Vice President Evan McDonald, and Senior Executive Vice Presidents Tucker Hohenstein and Mike Erwin negotiated a $13,800,000 transaction.
Totaling 17,931 square feet of buildings situated on 3.56 acres, the Miramar Road site is one of the few low coverage properties in the area. It boasts visibility from ±60,000 daily commuters through the high-traffic Miramar Road area. The site holds light industrial zoning permits, offering the buyers ample build-to-suit opportunities. The parcel’s solid historical tenant base provides the buyer with predictable income over the next few years, making the execution of this deal a strategic long-term investment.
“Special thanks to the Colliers industrial team for their instrumental efforts in executing and securing such a highly sought after asset in one of the top industrial markets in San Diego” said Ben Bucci, Senior Vice President, LPC West.
Brasa Capital Management is a real estate investment manager based in Los Angeles. Brasa targets middle-market commercial real estate investments in the Western US and Texas. The firm invests across the capital stack in diversified asset types. Brasa manages both commingled funds and separate accounts on behalf of institutional and high-net-worth investors.