Known as Centerpointe Commerce Park, the 10-building property stands on a 12.65-acre parcel located at Kenamar Drive. Seven of its facilities are designed to accommodate multiple tenants, while the other three serve as single-tenant or dual-tenant buildings. The complex is currently 90% leased to companies serving mainly the mortgage, building and life sciences industries.
Both H.G. Fenton Co. and the seller, Miramar G.H. Ventures LP, were represented by Nicholas Psyllos, Douglas Matheson and Dean Asaro of CB Richard Ellis.
The Centerpointe acquisition reflects H.G. Fenton Co.'s strategy of expanding its portfolio with "high quality properties that provide the community with convenient, accessible and well-maintained places to work and live," according to Kevin Hill, the company's leasing director. "Centerpointe compliments our existing Miramar portfolio, allowing us to offer even more space options from as small as 500 sf to as large as 50,000 sf."
H.G. Fenton Co.'s current portfolio encompasses 2.8 million sf, one-third of which is located in Miramar. In addition to its industrial portfolio, the company also holds several hundred acres of land and 2,119 apartment units in eight San Diego multifamily complexes.
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