Cushman & Wakefield Announces Sale of Self Storage Facility in Louisville, KY

LOUISVILLE, KY, April 25 2019 – Cushman & Wakefield announced the firm has completed the sale of Fort Locks Self Storage in Louisville, KY. Located at 7650 Dixie Highway, the project contains 51,900 rentable square feet of storage area demised into 310 units.  The seller was a private individual based in Louisville and the buyer was Glendale, Calif-based Public Storage. Greg Wells, Managing Director of Cushman & Wakefield’s Self Storage Advisory Group, along with Brent Dolen and Sam English of the firm’s Louisville office represented the seller and also procured the buyer in the transaction. “Fort Locks Self Storage is a high quality, well-built asset located in a strong trade area in Louisville,” said Wells. “This acquisition is part of the buyer’s strategy to continue to grow their presence and platform in the greater Louisville market.” Dolen added, “Fort Locks Self Storage is an exceptionally well-located Class-A property on the [...]

2019-04-25T19:26:19-04:00April 25th, 2019|In the News|

Cushman & Wakefield Advises Sale of Class A Industrial Facility in Carlsbad for $14.45 Million

SAN DIEGO, Calif., April 24 2019 – Cushman & Wakefield has advised Badiee Development, Inc., a locally-based full service real estate development company founded by Ben Badiee, in the sale of a 55,573-square-foot Class A industrial property in Carlsbad (San Diego), California. The recently constructed facility is fully leased and was acquired by a private high net worth family from San Diego for $14.45 million. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey, Zach Harman and Devin Muna of Cushman & Wakefield’s San Diego and Orange County offices represented the seller in the transaction. The firm’s Brant Aberg and Dennis Visser also provided local market advisory. Executive Managing Director Bryce Aberg said, “Built in 2017, the property represents a state-of-the-art industrial facility located in a highly desirable Carlsbad location.” He added, “Despite the delivery of new product in 2018, almost 70% of it has been absorbed by the [...]

2019-04-24T14:34:46-04:00April 24th, 2019|In the News|

San Diego Industrial Market Sees Rare Blip amidst Long, Strong Growth Trend

Vacancy and Occupancy Flat, Construction Up to Start 2019 SAN DIEGO, Calif., April 23, 2019 – On the heels of achieving a staggering 2 million square feet (msf) of annual occupancy growth in 2018, San Diego industrial market growth stepped off to a flat start in the first quarter of 2019, reports Cushman & Wakefield. In total, the market reported a minimal loss of less than 18,000 sf countywide, though it is expected for growth to resurge soon ahead. Industrial vacancy was also flat, holding its sturdy position in the mid-5% range, despite an ongoing influx of new construction deliveries—a strong and vital source for growth activity the past several years. Jolanta Campion, Cushman & Wakefield’s Research Director in San Diego, said, “A slow yearly beginning is not all that uncharacteristic. For example, 2018 also began sluggish but went on to see tremendous industrial growth the rest of the way, [...]

2019-04-23T15:41:44-04:00April 23rd, 2019|In the News|

Cushman & Wakefield Advises Sale of 73,000 SF Industrial Facility in Central San Diego for $15.95 Million

Property Fully Leased to Single Tenant SAN DIEGO, Calif., April 18, 2019 – Cushman & Wakefield announced today the firm has advised seller SENTRE, a full service real estate investment and development firm, in the disposition of a 73,000-square-foot industrial facility in Poway (San Diego), California. Located at 13450 Stowe Dr., the facility was acquired by SOCAL Stowe, LLC for $15.95 million. The property is 100% leased to Aldila Composite Materials, a subsidiary of Mitsubishi and a leading designer and manufacturer of composite materials. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey, Brooks Campbell, Zach Harman and Devin Muna of Cushman & Wakefield’s San Diego and Orange County offices represented SENTRE, an acronym for Stewards and ENTrepreneurs of Real Estate, in the transaction. The firm’s Brant Aberg also provided local market advisory. Jim Snyder and Patrick Lacey of Lee & Associates represented the buyer. Bryce Aberg said, “The [...]

2019-04-18T17:29:00-04:00April 18th, 2019|In the News|

San Diego Office Market Starts 2019 in Growth Mode

Plenty of Exciting Things Happening in Region SAN DIEGO, Calif., April 18, 2019 – San Diego’s office market is off to a positive start to 2019 with market fundamentals still very healthy, according to Cushman & Wakefield’s new first quarter of 2019 report. Market highlights included a few hundred thousand square feet of occupancy growth to kick off the year, further rent growth in Class A and B segments, and continued investor demand. Following a modest amount of occupancy loss last quarter to close 2018, the firm had predicted the office sector would quickly step back into growth mode. Jolanta Campion, Cushman & Wakefield’s Research Director in San Diego, said “Tenants absorbed 200,000 of office space on a net basis in the first quarter of 2019. With the exception of last quarter (Q4-2018), every quarter for approximately the last four and a half years (19 quarters) has seen occupancy growth, [...]

2019-04-18T14:44:54-04:00April 18th, 2019|In the News|

Cushman & Wakefield’s Matt Davis Recognized As A 2018 RLI APEX Top 20 National Producer

April 17, 2019 - SAN DIEGO, Calif. – Matt Davis, with Cushman & Wakefield from San Diego, California, has been recognized as an APEX 2018 Top 20 National Producer by the Realtors® Land Institute as a part of the RLI APEX Production Awards Program, sponsored by The Land Report. Mr. Davis was recognized by RLI CEO Aubrie Kobernus, MBA, RCE, as well as The Land Report’s Co-founders Eddie Lee Rider Jr. and Eric O’Keefe at a special awards ceremony on Tuesday, March 5, during RLI’s 2019 National Land Conference (NLC19) in Albuquerque, NM. “It is a real honor to be recognized by Realtors Land Institute and The Land Report as a National Top 20 Producer, and also very humbling to be recognized together with so many great colleagues from across the country,” said Matt upon receiving the award. “We are proud of Matt and all of our members that were [...]

2019-04-17T12:21:03-04:00April 17th, 2019|In the News|

Cushman & Wakefield Adds Weston Yahn to North San Diego Team

Experienced Professional Adds Depth to Firm's Talented North County Roster SAN DIEGO, Calif., April 4, 2019 – Cushman & Wakefield announced today that Weston Yahn has joined the firm’s brokerage services in San Diego. Mr. Yahn will be based in Cushman & Wakefield’s Carlsbad office, where he will specialize in R&D and industrial leasing and sales in San Diego’s North County. “Weston is a great addition to our robust brokerage team in San Diego, and his service-first approach, determination and work ethic aligns perfectly with our goals of delivering the most top notch, responsive client services,” said Larry Cambra, Cushman & Wakefield San Diego’s Market Director of Brokerage. “North County remains a thriving community with strong market fundamentals. Weston’s prior experience and expertise together with his drive and passion will be a valuable asset in enhancing our tenant and investment business in this sought-after market.” Mr. Yahn comes to Cushman [...]

2019-04-17T12:22:38-04:00April 9th, 2019|In the News|

Investor Acquires 80,700 SF Class A Office Building in Carlsbad for $17.6 Million

Cushman & Wakefield Represents Seller in Disposition of Highly Stable Asset SAN DIEGO, Calif., March 28, 2019 – Cushman & Wakefield announced today the firm has brokered the sale of an 80,659 square foot multi-story Class A office building in Carlsbad (North San Diego), California. The buyer was Zoe Office Center, LLC, which acquired the multi-tenant asset located at 2888 Loker Avenue East for $17.6 million. The seller was Global Carlsbad I, LLC. Aric Starck of Cushman & Wakefield’s San Diego office joined by Ron Jacobson of SD Realty Partners represented the seller in the transaction. Starck, Executive Managing Director, said, “2888 Loker Avenue East presented a highly stable investment opportunity of a 99% leased Class A building—with over 70 tenants—that has enjoyed great historical occupancy due to its position in a thriving area with strong market demand for small office suites together with a strategic and amenity rich location.” [...]

2019-03-28T14:10:04-04:00March 28th, 2019|In the News|

Cushman & Wakefield Team Advises $16.1 Million Medical Portfolio Sale in Arizona

Demand for Quality Medical Investments at All-Time High PHOENIX/SAN DIEGO, March 28, 2019 – Cushman & Wakefield announced today a 39,305-square-foot (sf) portfolio consisting of three medical office buildings in the cities of Chandler and Gilbert, Arizona has sold for $16,100,000 ($410 PSF). The buyer was Global Medical REIT of Bethesda, Maryland. Cushman & Wakefield represented the anchor tenant and seller in the transaction, a local gastroenterology practice that will continue to operate out of the properties under a long-term sale/leaseback arrangement. The portfolio also included two endoscopy centers, one of which is owned and operated by a joint venture between local physicians, Dignity Health and national surgery center operator United Surgical Partners Inc (USPI). Devpal Gupta and Peter Menna of Cushman & Wakefield’s Phoenix office collaborated with Travis Ives of the firm’s national Healthcare Capital Markets Team to represent the seller on the assignment. This marked the trio’s second [...]

2019-03-28T12:11:21-04:00March 28th, 2019|In the News|

RAF Pacifica Group Acquires Five Creative and Value-Add Properties In Coastal Carlsbad for $59.6 Million

Carlsbad CA—  RAF Pacifica Group (RPG), a San Diego-based owner, operator, and developer of high-quality commercial real estate, has added to its portfolio of creative and value-add assets in Northern San Diego County with the acquisition of five properties totaling six buildings in the Carlsbad, California, market. RPG purchased the properties, comprising one two-building creative-office campus, three creative-industrial buildings, and one value-add industrial building, for a total consideration of $59.6 million. “As these five acquisitions demonstrate, we have been extremely active in the Carlsbad market,” says Adam Robinson, President of RPG. “The properties align perfectly with our firm’s strategy of owning well-located, modern, creative and value-add assets in North County. Carlsbad attracts a tenant mix consisting largely of biotech, cleantech, communications, and action-sports companies, and we are in an ideal position to meet their real estate needs with these properties.” 6305 El Camino Real RPG acquired a 67,528 square-foot, value-add single-tenant industrial [...]

2019-03-27T15:26:22-04:00March 26th, 2019|In the News|