SENTRE announces today that it has closed the $50 million acquisition of Rancho Bernardo Vista, a new 141,518-square foot, Class A industrial facility, fully leased to the largest e-commerce company in the world and located at 16915 Via Del Campo in the Rancho Bernardo area of San Diego, California.
“Rancho Bernardo Vista is newly developed to the highest institutional standards and is located in one of San Diego’s strongest submarkets with co-tenancy of many of the world’s largest technology and defense firms,” said Douglas Arthur, President and CEO of SENTRE. “Fully leased through 2030 to an investment-grade credit tenant, the property is a trophy asset which we are excited to add to our growing portfolio of value add to core industrial properties in infill locations throughout the western Unites States.”
The seller developed Rancho Bernardo Vista in 2020 as a core industrial distribution facility, including institutional characteristics such as 32-foot clear heights, an ESFR fire protection system, deep truck court, 36 dock doors, four grade-level doors, mezzanine space and ample vehicle parking. The property was fully leased prior to completion and will serve as a mission-critical last-mile facility for the credit tenant.
The 10.12-acre secure site is located at 16915 Via Del Campo, which provides the tenant with easy access to Interstate 15 and commuter fast track lanes. Rancho Bernardo Vista is in the northern part of the San Diego MSA and within the I-15 Corridor industrial submarket, a tight cluster market with record-low vacancy of 1.8% for the manufacturing and warehouse sector.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Bob Prendergast, Lynn LaChapelle and Sach Kirpalani.
The JLL Capital Markets Debt Placement team, made up of Senior Managing Director Aldon Cole and Analyst Bradley Vansant, represented SENTRE in the placement of $26 million fixed-rate, 7-year term financing with a prominent publicly traded life insurance company.
Jay Alexander & Andy Irwin from JLL’s Industrial Leasing team represented the developer in its lease negotiations.