{"id":1004650527,"date":"2023-03-10T06:54:24","date_gmt":"2023-03-10T14:54:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004650527"},"modified":"2023-03-10T06:54:26","modified_gmt":"2023-03-10T14:54:26","slug":"sentre-buys-san-diego-asset-for-38m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sentre-buys-san-diego-asset-for-38m\/","title":{"rendered":"SENTRE Buys San Diego Asset for $38M"},"content":{"rendered":"
\"Parkway<\/a>

Parkway Commerce Center. Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n

SENTRE<\/strong> has acquired Parkway Commerce Center, a 147,907-square-foot industrial park in Poway, Calif., for $38.2 million from TA Realty,\u00a0<\/strong>according to CommercialEdge data.<\/p>\n

San Diego County public records show the buyer received $21.4 million in acquisition financing, provided by <\/span>Jackson National Life Insurance Co.<\/p>\n

According to CommercialEdge data, the property last traded in 2016 for $24.6 million, when TA Realty purchased it from Invesco Real Estate.<\/p>\n

Completed in 1999, the Class A property is on a 9.8-acre lot and encompasses two warehouse and distribution buildings and two industrial and flex buildings. Parkway Commerce Center features 19- and 25-foot clear heights, 21 dock-high doors, 36 drive-in doors, 175-foot truck court and 316 parking spaces. The tenant roster includes Xpress Global Systems, Ramona Research, San Diego Pure Water and Grand Design Kitchens.<\/p>\n

A JLL\u00a0<\/strong>Investment Sales team comprising Managing Directors Bob Prendergast and Lynn LaChapelle, Executive Vice President Ryan Spradling and Financial Analyst Zac Saloff brokered the transaction on behalf of TA Realty.<\/p>\n

A JLL Capital Markets team including Senior Managing Director Aldon Cole and Associate Brad Vansant helped secure the fixed-rate loan for SENTRE. The company also retained JLL to handle leasing operations for the industrial park.<\/p>\n

The property is at 13651-13771 Danielson St., approximately 20 miles from San Diego and offers direct access to Interstate 15, enabling same-day delivery to all Southern California. Other companies in the area include General Atomics, Amazon and Best Buy, among others.<\/p>\n

Recent San Diego industrial transactions<\/h2>\n

Since the beginning of the year, several industrial properties traded in the San Diego market. Among them, LaSalle Investment Management acquired a 601,103-square-foot building in the Otay Mesa submarket<\/a>. An Ares Management Real Estate fund sold the asset.<\/p>\n

A property occupied by Phillips changed hands when Wimatex purchased the 85,165-square-foot industrial facility<\/a> in Carlsbad, Calif., for $21.2 million.<\/p>\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Parkway Commerce Center last traded in 2016, for $24.6 million. <\/p>\n","protected":false},"author":2829,"featured_media":1004650530,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,1608,15],"tags":[44006,38491,32822],"class_list":["post-1004650527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-san-diego","category-west","tag-jll-capital-markets","tag-sentre","tag-ta-realty"],"acf":[],"yoast_head":"\nSENTRE Buys San Diego Asset for $38M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"SENTRE acquired Parkway Commerce Center, a 147,907-square-foot industrial park in Poway, Calif. 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