{"id":1004130156,"date":"2015-10-27T07:54:44","date_gmt":"2015-10-27T15:54:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004130156"},"modified":"2022-03-03T13:08:22","modified_gmt":"2022-03-03T21:08:22","slug":"former-post-office-facility-acquired-in-central-san-diego","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/former-post-office-facility-acquired-in-central-san-diego\/","title":{"rendered":"Former Post Office Facility Acquired in Central San Diego"},"content":{"rendered":"<p><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p>Real estate investment trust <a href=\"https:\/\/www.rexfordindustrial.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Rexford Industrial Realty<\/a> continued a dynamic 2015 with yet another purchase in Southern California. The company acquired the former Main Postal Annex in San Diego for a total of $19.3 million. This latest acquisition brings Rexford\u2019s investment volume to nearly $200 million for 2015, bringing its portfolio to 116 properties and roughly 11.5 million rentable square feet.<\/p>\n<div id=\"attachment_1004130157\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/2535-midway-drive.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004130157\" data-attachment-id=\"1004130157\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/former-post-office-facility-acquired-in-central-san-diego\/2535-midway-drive\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/2535-midway-drive.jpg\" data-orig-size=\"1734,637\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"2535 midway drive\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;2535 Midway Drive&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/2535-midway-drive.jpg?w=1024\" class=\"size-medium wp-image-1004130157\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/2535-midway-drive.jpg\" alt=\"2535 Midway Drive\" width=\"300\" height=\"110\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/2535-midway-drive.jpg 1734w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/2535-midway-drive.jpg?resize=300,110 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/2535-midway-drive.jpg?resize=768,282 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/2535-midway-drive.jpg?resize=1024,376 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/2535-midway-drive.jpg?resize=1536,564 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004130157\" class=\"wp-caption-text\">2535 Midway Drive<\/p><\/div>\n<p>The Main Postal Annex facility is located on a 16-acre plot of land at 2535 Midway Drive in Central San Diego. Consisting of two buildings that offer 373,000 square feet of industrial space, the asset will be upgraded and improved, with the new owner\u2019s aim being to reposition the property. Rexford is looking into turning the two buildings\u2019 ground floors into 10 ten individual units ranging in size between 10,000 and 45,000 square feet. Additionally, the larger building\u2019s second floor comprising 144,000 square feet of 22-foot clear height will also be repositioned.<\/p>\n<p>Offering proximity to major transit lines such as the I-8 and the I-5, the industrial campus offers frontage on Midway Drive and Barnett Avenue. Central San Diego\u2019s industrial space inventory totals roughly 80 million square feet of space, with an average vacancy rate of around 5.3 percent, according to <a href=\"https:\/\/www.cbre.us\/Pages\/Home.aspx\" target=\"_blank\" rel=\"nofollow noopener\">CBRE<\/a> data.<\/p>\n<p><em>Image via\u00a0Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rexford Continues SoCal shopping spree with an industrial acquisition.<\/p>\n","protected":false},"author":41,"featured_media":1004130157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,1608],"tags":[],"class_list":["post-1004130156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-san-diego"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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