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ASB-Lincoln JV sells industrial property for $30m
Transactions - OCTOBER 6, 2021

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ASB-Lincoln JV sells industrial property for $30m

by Andrea Zander

ASB Real Estate Investment has sold 860 Harold Place, an 83,490-square-foot industrial property located in Chula Vista, near San Diego, for $29.75 million.

ASB made the sale on behalf of its Meridian Real Estate Fund II, a $175 million value-creation vehicle, which owned the property in a joint venture with Lincoln Property Company. The buyer was Exan Capital, an adviser to high-net-worth investors from Spain. The ASB-Lincoln joint venture bought 860 Harold in 2018 for $11.1 million.

Brodie Ruland, ASB managing director and co-head of acquisitions, said, “The full-building lease signing and subsequent upgrades to the property added significant value to the asset and created an excellent opportunity to pursue an attractive sale outcome.”

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