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Sign in Sign up for a FREE subscriptionRockpoint announces sale of two-building industrial property in San Diego area
Rockpoint announced the sale of a two-building industrial property located on Sanyo Avenue in Otay Mesa, Calif., to Badiee Development. This transaction is the third in a series of three industrial properties Rockpoint and Badiee jointly purchased and developed and completes Rockpoint’s realization of all three properties. Financial terms of the transaction were not disclosed.
The 243,000-square-foot property is situated in a desirable economic hub, 20 minutes from downtown San Diego and less than one mile from the second-most active U.S./Mexico commercial border crossing. Located to capitalize on San Diego’s foreign trade zone, the property offers local businesses unique cost-savings opportunities related to cross-border trade activities. Rockpoint and Badiee acquired the 15-acre site in June 2021 and subsequently developed the best-in-class industrial property.
“We greatly value our partnership with the Badiee team and are thrilled with their execution on these