CenterSquare and its joint venture partner RAF Pacifica Group (RPG) have sold Viper Way, a class A industrial building located in the infill Vista submarket in North San Diego.
The financial terms were not disclosed; however, the new owner is BLT Enterprises.
“When we acquired Viper Way, we believed that the asset quality and infill location would be foundational for significant value creation upon execution of the business plan,” said Robert Wasenius, senior vice president of private real estate at CenterSquare. “Our timely completion of value-added improvements allowed the property to be move-in ready to meet the robust tenant demand for functional last-mile industrial facilities. The outcome was a testament to our conviction in the industrial sector, our ability to effectively reposition quality assets, and our alignment with repeat partner RPG.”
In February 2021, CenterSquare and RPG acquired 1 Viper Way. The property was a 202,844-square-foot vacant
