The facilities are located at 2919 and 2929 San Luis Rey Rd. They encompass 10,400 sf and 7,000 sf, respectively. The buyers plan to use the facility located at 2919 San Luis Rey Rd. to house their skateboard manufacturing operations. They will hold the other building as an investment, as it is currently leased to Ben's Recycling and Ceramistone.
The Falahees were represented by Brian Strange of Colliers International. Jim Spain and Josh McFadyen, who are also with Colliers International, acted on behalf of seller MAJ Holdings LP.
Despite the continued migration of manufacturing operations out of California, San Diego placed number eight on Sperry Van Ness' mid-year roundup of America's Top Ten Investment Markets for industrial product. At mid-year, the region posted a median cap rate of 8.31% and an average price per sf of $89.99, according to Sperry Van Ness' research.
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