Black Creek Group pays $147m for industrial campus in Vista, Calif.

Black Creek Group has purchased North County Corporate Center (NCCC), a five-building, 493,898-square-foot, institutional-quality industrial campus in Vista, Calif., for $147.5 million. The seller was Barings.

NCCC is widely known as North San Diego County's largest pure industrial distribution project, and is situated in a distinctive, high-image business-park environment. The property presents market-functional modern building features, including 26-foot clearances, ESFR and ESFR-ready sprinkler systems, abundant dock-high loading, large truck yards, and modern offices.

"North County Corporate Center is the largest pure industrial distribution park in North County San Diego. The property is 100 percent occupied, and offers solid, in-place cash flow from a diverse rent roll with six credit tenants and staggered lease expirations," said Brett Hardy, Newmark executive managing director. "Additionally, below-market rents and forecasted hyper-inflationary industrial rent