{"id":1004525801,"date":"2021-03-26T03:58:32","date_gmt":"2021-03-26T11:58:32","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004518540"},"modified":"2022-04-19T01:03:37","modified_gmt":"2022-04-19T09:03:37","slug":"hines-acquires-san-diego-area-16-acre-site","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-acquires-san-diego-area-16-acre-site\/","title":{"rendered":"Hines Acquires San Diego-Area Site"},"content":{"rendered":"
\"\"<\/a>

Raceway Industrial. Rendering courtesy of Hines<\/em><\/p><\/div>\n

Hines has purchased 16.4 acres of land for the development of Raceway Industrial, a logistics project in Carlsbad, Calif. This marks their first industrial land acquisition in the metro.<\/p>\n

The company plans to develop a one-story, 249,000-square-foot warehouse on the site. Completion is scheduled for early 2022. The site is located between interstates 5 and 15, in the North County submarket.<\/p>\n

Demand for industrial real estate exploded in 2020, primarily driven by e-commerce\u2019s pandemic-induced boom. According to CommercialEdge data, the fourth quarter of 2020 had the highest sales volume of any quarter since CommercialEdge began collecting industrial data, with $11.9 billion in sales completed. The average price per square foot rose 18.2 percent year-over-year through January to $100.<\/p>\n

Continued demand for industrial space is set to sustain rent growth and drive vacancy rates lower. In January, Ryan Cos. and DWS Group completed Vantage Point, a 533,950-square-foot logistics development<\/a> in Poway, Calif., that is leased to Amazon. That same month, Hines sold an approximately 400,000-square-foot asset<\/a> in Santa Ana, Calif. The facility traded for $113.5 million. The new deal comes almost half a year after Badiee Development completed the construction of a 50,150-square-foot adaptive flex industrial building<\/a> in Carlsbad, with TFW acting as general contractor.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company is set to develop a 249,000-square-foot warehouse in Carlsbad, Calif.<\/p>\n","protected":false},"author":868,"featured_media":1004527781,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21748,21742,1608,15],"tags":[32797],"class_list":["post-1004525801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-industrial","category-latest","category-san-diego","category-west","tag-hines"],"acf":[],"yoast_head":"\nHines Acquires San Diego-Area Site - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hines-acquires-san-diego-area-16-acre-site\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines Acquires San Diego-Area Site\" \/>\n<meta property=\"og:description\" content=\"The company is set to develop a 249,000-square-foot warehouse in Carlsbad, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hines-acquires-san-diego-area-16-acre-site\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-26T11:58:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-19T09:03:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Raceway-Industrial-e1616756687159.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1013\" \/>\n\t<meta property=\"og:image:height\" content=\"759\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sergiu Inizian\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-acquires-san-diego-area-16-acre-site\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hines-acquires-san-diego-area-16-acre-site\/\",\"name\":\"Hines Acquires San Diego-Area Site - 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