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Hines Global Income Trust acquires Miramar Activity Business Center in San Diego
Hines Global Income Trust, Inc. has acquired Miramar Activity Business Center, which consists of five industrial flex buildings in the Miramar submarket of San Diego.
The 161,000-square-foot complex is situated 1 mile from the I-15 in Central San Diego. This location is advantageous for tenants who need to be well positioned geographically in the market, since it provides direct access to the majority of the city’s population within 30 minutes. Demand for industrial and logistics real estate has continued to grow within this market in recent years, while availability has simultaneously diminished. Additionally, recent capital improvements have given the asset a competitive advantage in retaining tenants.
“San Diego is proving to be an important and growing market for industrial tenants,” said Eric Hepfer, managing director in the Hines San Diego office. “We are excited to be closing another industrial acquisition in the San Diego market. Miramar Activity Busin