FOR IMMEDIATE RELEASE
Harsch Investment Properties Expands San Diego Portfolio with Acquisition of 13-Acre Multi-Tenant Industrial Business Park
Purchase in El Cajon is Harsch’s Seventh Investment in Major Business Parks along the West Coast
SAN DIEGO, CA. – December 3, 2015 – Harsch Investment Properties, a Portland-based real estate investment, development and management company, has made its seventh acquisition of the year with the purchase of Center Pointe Business Park, a 246,621-square-foot multi-tenant industrial property in El Cajon, California, in San Diego County. The business park occupies more than 13 acres at the corner of Vernon Way and North Johnson Avenue, in the heart of East County’s industrial market.
Harsch Investment Properties is no stranger to the San Diego region, having first acquired properties there in the early 1960’s. The company presently owns and operates approximately 2.5 million square feet of industrial properties in the San Diego metropolitan area.
“We are excited to expand our presence in San Diego with this acquisition,” said Jordan Schnitzer, president of Harsch Investment Properties. “This is our seventh acquisition this year in our industrial division, which now operates over 18 million square feet of business parks.”
“As a longtime commercial property owner in the San Diego region, we have been very impressed with the market dynamics of El Cajon and East San Diego County markets. We identified Center Pointe as one of the highest quality industrial parks in El Cajon which has one of the lowest vacancy rates in the County,” said Harsch Investment Properties Senior Vice President and San Diego Regional Manager Bill Rodewald.
Center Pointe Business Park is occupied with diverse, high-quality regionally-based companies. The property is regarded as the premier location in San Diego’s second-largest industrial market which makes it ideal for manufacturers and distributors with direct access to Interstate 8, convenient access to Interstate 125, State Route 52 and State Route 67, as well as the Gillespie Field Municipal Airport. Center Pointe Business Park is just minutes from one of the four largest ports in the United States.
Added Rodewald, “The completion of State Route 52 has made it possible to access the El Cajon market from Kearny Mesa and University Town Center within 15 minutes, and Central County industrial users are now very open to locating in El Cajon. The available workforce in East County and many housing opportunities add to the appeal of this submarket.”
Bo Mills of Jones Lang LaSalle Capital Markets Group served as the listing broker for Center Pointe Business Park.
About Harsch Investment Properties
Harsch Investment Properties is a privately-held real estate company that acquires, manages and develops properties for its own portfolio. Founded in 1950, the company owns and operates 22 million square feet of office, multi-tenant industrial, multi-family and retail properties in six western states. Headquartered in Portland, Oregon, Harsch has regional offices in San Diego, Seattle, Portland, the San Francisco Bay Area, Sacramento and Las Vegas. More information can be found by going to http://www.harsch.com.
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Harsch Investment Properties