Crow Holdings Capital in partnership with LPC West— the West Coast division of Lincoln Property Co.—have acquired a 112,000-square-foot industrial property in Chula Vista, Calif. According to public records, the building traded for $17 million—and Yardi Matrix data shows that the seller was GES. The deal marks the first time the asset changed hands since it was developed in 1993.
Located at 491 C St. in a designated Foreign-Trade Zone, the property is some 3 miles from both Interstate 805 and Interstate 5, 10 miles from the Port of San Diego and 12 miles from San Diego International Airport. The single-story building occupies a 6.9-acre site and includes 37 trailer parking spots, a two-level office build-out component, eight dock-high doors and four grade-level doors.
Last month, Lincoln Property sold a 62,392-square-foot flex building in San Diego for $17 million. At the time of sale, the facility was undergoing a biotech conversion process, which the new owner intends to complete.