Single-Tenant Industrial
Morena Corridor Industrial Portfolio
5304 Custer St, San Diego, CA 92110
Listing Price: $4,100,000
Investment Overview
Marcus & Millichap is pleased to present for sale the Morena Corridor Industrial Portfolio. The offering is comprised of two adjacent parcels with metal construction warehouses under one lease to Sundt Construction Inc. through March 31, 2025. 5304 Custer Street includes a Quonset hut and offers 5,192 square feet of building space on a 0.22 acre parcel. 5320 Custer Street includes multiple metal structures totalling 7,371 square feet of building space on a 0.30 acre parcel.
The offering sits prominently at the intersection of Interstates 5 and 8 in coastal central San Diego. It is wedged in the middle of the largest redevelopments in San Diego -- the $3 billion Riverwalk Golf Course project, the Midway Rising / Sports Arena redevelopment, NAVWAR redevelopment and immediately adjacent to the Tecolote Village planned redevelopment. All of these developments will cumulatively add up to 20,000 residences and millions of Class A commercial square feet.
This is a successor trustee sale. Successor trustee will provide all information available but representations and warranties will be limited. Buyer will need to satisfy itself with respect to all investigations. Noteworthy, a Phase I was completed in 2021 and recommended no further investigation.
Morena Corridor Industrial Portfolio
Investment Highlights
- Sits squarely at the epicenter of central San Diego's major development initiatives and at the intersection of Interstates 5 and 8.
- Walking distance to the Tecolote Road and Morena/Linda Vista trolley stations.
- Easy access to all major San Diego freeways and walking distance to restaurants and other Morena neighborhood amenities.
- Current industrial vacancy for the competitive set is 2.3%.
- Tenant's lease expires March 31, 2025. The current rents of $0.50/SF NNN are less than 1/3 of market rent.
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Listing Price: $4,100,000
Investment Highlights
- Sits squarely at the epicenter of central San Diego's major development initiatives and at the intersection of Interstates 5 and 8.
- Walking distance to the Tecolote Road and Morena/Linda Vista trolley stations.
- Easy access to all major San Diego freeways and walking distance to restaurants and other Morena neighborhood amenities.
- Current industrial vacancy for the competitive set is 2.3%.
- Tenant's lease expires March 31, 2025. The current rents of $0.50/SF NNN are less than 1/3 of market rent.
Investment Overview
Marcus & Millichap is pleased to present for sale the Morena Corridor Industrial Portfolio. The offering is comprised of two adjacent parcels with metal construction warehouses under one lease to Sundt Construction Inc. through March 31, 2025. 5304 Custer Street includes a Quonset hut and offers 5,192 square feet of building space on a 0.22 acre parcel. 5320 Custer Street includes multiple metal structures totalling 7,371 square feet of building space on a 0.30 acre parcel. The offering sits prominently at the intersection of Interstates 5 and 8 in coastal central San Diego. It is wedged in the middle of the largest redevelopments in San Diego -- the $3 billion Riverwalk Golf Course project, the Midway Rising / Sports Arena redevelopment, NAVWAR redevelopment and immediately adjacent to the Tecolote Village planned redevelopment. All of these developments will cumulatively add up to 20,000 residences and millions of Class A commercial square feet. This is a successor trustee sale. Successor trustee will provide all information available but representations and warranties will be limited. Buyer will need to satisfy itself with respect to all investigations. Noteworthy, a Phase I was completed in 2021 and recommended no further investigation.
Exclusively Listed By
Financing By
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