{"id":1004743447,"date":"2025-01-17T07:54:29","date_gmt":"2025-01-17T15:54:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004743447"},"modified":"2025-01-17T07:54:31","modified_gmt":"2025-01-17T15:54:31","slug":"hines-san-diego-park-reaches-full-occupancy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-san-diego-park-reaches-full-occupancy\/","title":{"rendered":"Hines’ San Diego Park Reaches Full Occupancy"},"content":{"rendered":"
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\"Exterior<\/a>
Britannia Technology Park includes two buildings delivered in 2023 on 14 acres. Image courtesy of Cushman & Wakefield<\/em><\/figcaption><\/figure><\/div>\n\n\n

Foxx Development Inc. has signed a 102,099-square-foot, full-building expansion at Britannia Technology Park, a 203,244-square-foot industrial campus in San Diego\u2019s Otay Mesa submarket. Hines owns the two-building property through its Hines U.S. Property Partners investment fund. Cushman & Wakefield represented the landlord.<\/p>\n\n\n\n

Foxx initially committed to the 101,145-square-foot warehouse at 7222 Airway Road in mid-2024. The new deal, involving the facility at 7498 Colchester Court, doubled the tenant’s footprint at the campus, which became fully leased.<\/p>\n\n\n\n

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READ ALSO:<\/strong> SoCal Industrial Market\u2019s Comeback Story<\/a><\/p>\n\n\n\n

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Britannia Technology Park comprises two facilities that were part of the 52-acre Brown Field Technology Park. Hines picked up the assets in late 2023 for $60.9 million from developer Murphy Development Co., according to CommercialEdge.<\/p>\n\n\n\n

Completed in 2023, the buildings feature 32- to 34-foot clear heights, heavy power and office build-out components. Additionally, the campus includes rooftop solar capacity, a fenced yard area, outdoor patio spaces, EV charging stations, skylights and a total of 328 vehicle parking spots.<\/p>\n\n\n\n

The campus occupies almost 14 acres near State Route 905, interstates 5 and 805 and Brown Field Municipal Airport. The U.S.-Mexico border is neighboring the property, while San Diego International Airport is 21 miles away.<\/p>\n\n\n\n

Cushman & Wakefield Vice Chairman Brant Aberg negotiated on behalf of the landlord.<\/p>\n\n\n\n

San Diego industrial leasing slows down <\/h2>\n\n\n\n

San Diego’s industrial vacancy rate reached 6.5 percent during the fourth quarter of last year, up by 50 basis points over the quarter, according to a Cushman & Wakefield report. The was the highest rate recorded in the market since the third quarter of 2014. <\/p>\n\n\n\n

New leasing deals totaled 665,000 square feet during the last quarter of 2024, down 46 percent quarter-over-quarter. However, the leasing volume for the full year new deals increased by 8 percent when compared to 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

The tenant doubled its footprint at the property.<\/p>\n","protected":false},"author":2991,"featured_media":1004743459,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,21742,1608,15],"tags":[34908,32797],"class_list":["post-1004743447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-latest","category-san-diego","category-west","tag-cushman-wakefeld","tag-hines"],"acf":[],"yoast_head":"\nHines' San Diego Park Reaches Full Occupancy - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Foxx Development Inc. has signed a full-building expansion at Britannia Technology Park, Hines' industrial campus in San Diego.\" \/>\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-san-diego-park-reaches-full-occupancy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines' San Diego Park Reaches Full Occupancy\" \/>\n<meta property=\"og:description\" content=\"Foxx Development Inc. has signed a full-building expansion at Britannia Technology Park, Hines' industrial campus in San Diego.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hines-san-diego-park-reaches-full-occupancy\/\" \/>\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=\"2025-01-17T15:54:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-17T15:54:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Untitled-e1737046513582.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"955\" \/>\n\t<meta property=\"og:image:height\" content=\"717\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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-san-diego-park-reaches-full-occupancy\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hines-san-diego-park-reaches-full-occupancy\/\",\"name\":\"Hines' San Diego Park Reaches Full Occupancy - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-san-diego-park-reaches-full-occupancy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-san-diego-park-reaches-full-occupancy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Untitled-e1737046513582.jpg\",\"datePublished\":\"2025-01-17T15:54:29+00:00\",\"dateModified\":\"2025-01-17T15:54:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"Foxx Development Inc. has signed a full-building expansion at Britannia Technology Park, Hines' industrial campus in San Diego.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-san-diego-park-reaches-full-occupancy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/hines-san-diego-park-reaches-full-occupancy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-san-diego-park-reaches-full-occupancy\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Untitled-e1737046513582.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/Untitled-e1737046513582.jpg\",\"width\":955,\"height\":717,\"caption\":\"Britannia Tech Park. 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