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 current tenant has occupied the property for decades since the mid 1990s and very recently made a substantial investment into the property that included several interior, exterior and mechanical upgrades.” He added, “Furthermore, the property is positioned in the center of the I-15 Corridor, which has one of the largest concentrations of aerospace and defense companies in San Diego.”
Situated on 4.3 acres and originally constructed in the early 1990s, the single-story building with mezzanine space features dock and grade level loading, open outdoor amenities, efficient office layout, new LED Lighting, and a secured yard. Additionally, the property is near Interstate 15 and State Route 56.
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Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.