May 17, 2023

 

San Diego, Calif. May 17, 2024 – Birtcher Anderson & Davis announced today it’s purchase of 7949 Stromesa Court, a +/-107,564 square-foot multi-tenant industrial building located in the Miramar submarket of San Diego. Birtcher Anderson & Davis and Nuveen joint ventured to purchase the asset for $26,500,000.

 

Colliers’ Executive Vice President Evan McDonald and Senior Associate Kurtis Blanchard represented the Buyer in the transaction. Dean Asaro of Kidder Matthews represented the Seller. “Great execution by the Birtcher & Nuveen team. 7949 Stromesa Court is one of the most desirable multi-tenant industrial assets in Central San Diego from both a tenants and landlords perspective. The unique bay size and functionality compliments the demand in the central San Diego marketplace.” said McDonald.

 

The multi-tenant, single-story industrial park was 95% percent leased and contains 12 tenants. Situated on a ±5.35 acre lot, 7949 Stromesa Court is strategically centrally located in the Miramar area with excellent access to major freeways such as I-15 and I-805. Other building features include grade and dock level loading, 22’ warehouse clear height, and the ability to accommodate large 53’ truck trailers.

 

“We are excited for the opportunity to work with Nuveen and execute our business plan on a high-quality asset located in one of the most infill submarkets in San Diego ” said Evan Hanyak, Vice President of Birtcher Anderson & Davis. “With the lack of new supply in the face of continued strong tenant demand, we’re anticipating solid rental growth and high occupancy during our investment period.“