$10M Buys Metroplex Technology Center

SAN DIEGO-The Metroplex Technology Center in San Diego has traded hands for nearly $10.1 million to the Realty Associates Fund VI LP of Newport Beach. Located at 8909, 8949 and 8969 Kenamar Dr., the industrial asset is part of the San Diego Metroplex property, which also includes a 131,314-sf, pyramid-shaped office facility and a 251,727-sf, three-building retail plaza. Metroplex Technology Center encompasses a total of 92,930 sf, which is housed in three separate, freestanding facilities that all include grade-level loading, high-speed connections and fiber optic capabilities. The smallest of Metroplex Technology’s buildings is the 18,222-sf facility located at 8909 Kenamar Dr., which features a parking ratio of 3.5 spaces to every 1,000 sf. According to marketing literature for this property, the asking lease rate is $0.95 per sf, triple-net. The second largest facility that comprises the Metroplex Technology Center is the 8949 Kenamar building, which houses 28,232 sf that is divided between five suites. The asking lease rate here is $0.85 per sf, triple-net, according to the Metroplex marketing materials. The facility located at 8969 Kenamar Dr. is Metroplex Technology’s biggest building, with a size of 46,476 sf. Divided into six suites, the facility includes office space. According to the Metroplex literature, the asking lease rate here is $0.85 per sf. Tenants at Metroplex Technology Center include JPS Floor Coverings, Prudential Design Center, Master Tile West Inc. and Broad Display. The property offers build-out opportunities, according to the Metroplex marketing materials. Jay Alexander, Brian Driscoll, John Hale and Ryan Grove of Colliers International acted on behalf of both buyer Realty Associates Fund and the San Diego-based seller, Pars Sorrento Valley Science Park II LLC, in the recent sales transaction. Alexander and Grove will continue to market the Tech Center for lease, according to a Colliers International spokesperson.