After holding on to the asset for almost two years, Stos Partners has sold Brandywine Distribution Center for $24.4 million. A partnership between KKR and Alpha Industrial Properties purchased the 170,011-square-foot, Class A multi-tenant property situated in San Diego’s South County. The asset has a highly diversified tenant mix, including defense contractors, as well as regional and local companies like SolarCity, Tecnico, Curbell Plastics and Surgical Specialties.
Completed in the late 1980s, Brandywine Distribution Center comprises of two distribution buildings on 9.8 acres. The portfolio features well-designed ingress/egress, efficient warehouse and office configurations, as well as dock and grade loading. Located at 1670 & 1690 Brandywine Ave., in Chula Vista, Calif., the asset is near Interstates 5 and 805 and State Route 905.
Capital markets experts Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Zach Harman of Cushman & Wakefield’s San Diego and Orange County offices represented the seller in the transaction. The firm’s Ryan Spradling and Brant Aberg also provided local market advisory. According to Executive Managing Director Aberg, the property is in a high demand market with strong rent growth potential and presents a rare opportunity to acquire a sizable multi-tenant industrial portfolio in one of the most desirable investment markets in San Diego.