MCA Realty Pays $31M for San Diego-Area Facility

MCA Realty Inc. has purchased a 106,311-square-foot industrial property for $30.7 million in Carlsbad, Calif. The off-market deal closed through the company’s MCA Realty Industrial Growth Fund II. Rexford Industrial sold the asset.

The buyer will rebrand the shallow bay industrial asset and make exterior and interior upgrades. Such facilities remain desirable across North San Diego County—the property previously traded in 2019 for $16.8 million, when Rexford Industrial acquired it from DigitalBridge, CommercialEdge data shows.

Completed in 1981, the Class B facility has clear heights ranging from 16 to 19 feet, 20 grade-level loading doors, HVAC systems and 234 vehicle parking spots. At the time of the sale, it was 95 percent leased. The tenant roster includes SpeedPress Sign Supply, Bleu Dog Group and Tropical Exotic Hardwoods, according to the same source.

Located at 2270 Camino Vida Roble, the 6-acre asset is near interstates 5 and 16, as well as U.S. Highway 78. San Marcos, Calif., is 8 miles away, while San Diego and San Diego International Airport are both within 33 miles.

Cushman & Wakefield’s Vice Chairman Bryce Aberg, Senior Director Conor Boyle and Director Tyler Stemley represented the buyer. Boyle and Stemley will serve as exclusive leasing agents.

San Diego’s industrial market stays active

A total of 33 properties, encompassing nearly 600,000 square feet, changed hands for $138.9 million across metro San Diego year-to-date through May, according to CommercialEdge. Most of these properties are Class C. The most active regions were the Carlsbad, Oceanside and South San Diego submarkets.

Orange County-based MCA Realty is active across Western U.S. industrial markets and actively seeks value-add opportunities. In March, the company secured a $52 million loan to refinance a 17-building property in the Inland Empire. Northmarq arranged the five-year note with an insurance company.