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Rockefeller Group has bought Heritage Industrial Heart, a 202,760-square-foot industrial asset in Chula Vista, Calif. EQT Exeter acquired the three-building campus, whereas Cushman & Wakefield brokered the transaction.
Rockefeller bought the land from HomeFed Corp. and commenced development in June 2022. The campus got here on-line in September final 12 months.
Heritage Industrial Heart occupies 12 acres and contains three buildings, measuring 105,550, 56,470 and 40,740 sq. ft. The campus options workplace areas, 28’-32’ clear heights, ESFR hearth sprinklers, grade-level and dock-high loading doorways, managed entry and parking areas.
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Situated at 3330 Heritage Highway, the property is inside the South San Diego submarket, close to Interstate 805, which offers easy accessibility throughout the San Diego metropolitan space.
Cushman & Wakefield’s Jeffrey Cole, Jeff Chiate, Bryce Aberg, Brad Brandenburg, Zachary Harman and Mike Adey represented the developer within the funding sale ingredient, whereas Voit Actual Property Companies’ Michael Mossmer and Patrick Connors labored on the leasing efforts and the sale of the challenge.
San Diego emptiness elevated
Heritage Industrial Heart marks Rockefeller’s second growth inside South San Diego and its sale was the second take care of EQT inside the previous three months. In one other latest deal, EQT bought a 319,336-square-foot Class A industrial property within the Northwest submarket of Indianapolis for $28.4 million.
In response to a latest Cushman & Wakefield report, San Diego’s industrial emptiness fee was up 80 foundation factors quarter-over-quarter, as of September. This marked the third consecutive quarter of will increase in emptiness. About 636,000 sq. ft got here on-line in Chula Vista and Otay Mesa, however remained unleased by way of the third quarter.
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