Harsch Buys Carroll Canyon Center for $18.9M

MIRAMAR, CA-Harsch Investment Properties has added another San Diego County industrial property to its portfolio, as it recently purchased the Carroll Canyon Center in a transaction valued at nearly $18.9 million.

The Portland, OR-based firm, which traces its first acquisitions in San Diego County back to the early 1960s, has begun targeting this region once again, having reentered the San Diego market just last year. Carroll Canyon Center is the third industrial property that Harsch has snatched up here since 2001.

“One of our company’s core strategies is making sure that our portfolio is geographically diversified,” Harsch President Jordan Schnitzer tells GlobeSt.com. “And the fundamental economics of the San Diego marketplace are a bit different from the other markets that we’re in.” He explains that San Diego’s strength lies in a combination of favorable characteristics, including a diverse job base, strong high-tech and biotechnology industries, fabulous weather and wonderful educational institutions and cultural centers. “All those factors add up to a strong market,” Schnitzer says.