Harsch Strikes Again, Seals $22.6M Deal

SAN DIEGO, CA-Harsch Investment Properties has picked up its fourth San Diego industrial property since reentering the market last year, having recently shelled out nearly $22.6 million for Cabrillo Commerce Center.

Portland, OR-based Harsch has purchased the 214,533-sf industrial/warehouse and freeway showroom property from Gateway Buena Park Inc., a California corporation dba Rreef America LLC. The multi-tenant complex stands on a 12.36-acre site at 5600-5644 Kearny Mesa Rd. and 5555-5595 Magnatron Blvd., located two miles east of the 805 Freeway near the intersection of Clairemont Mesa Boulevard and the 163 Freeway. It consists of nine one-story facilities that were 95% occupied at the time of sale. Approximately 53 companies occupy the complex, which boasts a tenant roster that includes San Diego Harley Davidson, Interior Surrounding, Olhausen Game Rooms and Boyd’s Coffee.

Nick Psyllos and Larry Jackel of CB Richard Ellis’ San Diego office represented both Harsch and Gateway Buena Park. Jackel, along with CB Richard Ellis colleagues Bill Dolan and Doug Works, will handle ongoing leasing efforts at the property.