Lee NSDC

October 27, 2021 (San Diego, CA) – Lee & Associates – North San Diego County announces the sale of 3 parcels, totaling 4,160 SF of building space on a total of 45,884 SF of land, located at 702, 710 & 716 Civic Center Dr, Vista, CA for $1,775,000. Michael Golden, of Lee & Associates – NSDC represented the buyer in this transaction. The existing tenants on the property will provide passive income to the new…

October 27, 2021 (San Diego, CA) – Lee & Associates – North San Diego County announces the sale of a 19-unit, multifamily investment property located at 3833 Jewell Street, CA for $8.075 million, or $565/SF and $425,000/Unit.   Eric von Bluecher, of Lee & Associates – NSDC’s Multifamily Advisory Group represented the buyer, SK 4 NATIONWIDE, L.P., and the Seller, RIVIERA JEWELL APARTMENTS, LLC   The 19-unit multifamily investment property, located in an A+ location…

The San Diego apartment market continues to be on fire with multiple offers on each appropriately priced multifamily offering. Cap rates below 4% are becoming a reality. Rents are continuing to rise, vacancies are declining, and the number of units available is shrinking. Vacancies are at 2.4%, rent growth is at 12.8% across the board where newer buildings increased in the 15-17% range. When COVID hit, it pushed most renters away from the coast in…

Collierville, TN – Lee & Associates, one of the largest national commercial real estate firms, has completed the $15,400,000 sale of an approximately 126,213-square-foot industrial building that sits on an approximately 9.07-acre parcel and is located at 477 Distribution Pkwy, in Collierville TN. The building is leased to FedEx Forward Depots, Inc., a subsidiary of Federal Express Corporation. FedEx has been operating at this location for over 15 years and recently executed a 5-year lease…

Carlsbad, CA – September 28, 2021 – Rusty Williams, Chris Roth and Jake Rubendall along with Craig Fitterer and Mark Jerue of Lee & Associates, a nationwide leader in commercial real estate services, announce the lease of a 60,472 square foot industrial space at 1319 Rocky Point Drive, Oceanside, CA. The building, with modern features and a 30’ clear height, was leased by Glass Warehouse, LLC, a Texas limited liability company. This lease is a…

Shakopee, MN – Lee & Associates, one of the largest national commercial real estate firms, has completed the $1,420,000 investment sale of a 3,534-square-foot standalone retail building with drive-thru in Shakopee, MN, a suburb of the Twin Cities, located 25 miles to the southwest. The building is leased to the largest Kentucky Fried Chicken franchisee operator in the State of Minnesota. There are 11 years remaining on the 15-year absolute NNN lease, which featured 1.50%…

Normal, IL – Lee & Associates, one of the largest national commercial real estate firms, has completed the $4,850,000 investment sale of an approximately 102,000-square-foot manufacturing and warehouse facility on 7.59 acres located at 2219 W. College Avenue in Normal, IL. The building is leased to Superior Consolidated Industries dba SC2 Services, Inc. (www.sc2services.com), a third-party logistics services (3PL), filtration, warehousing, contract packaging, industrial finishing, kitting, sequencing, sub-assembly and manufacturing support for Tier 1 and…

San Diego has firmly installed itself as one of the top life science clusters in the nation while the sector has seen tremendous growth fueled by the pandemic and recent advances in health technology. Investors have accelerated funding to these San Diego biotech and life science related companies which has caused a surplus of demand for space that has outpaced available supply. San Diego’s focus as a life science hub can be attributed to its…