CT Divests Four SoCal Industrial Assets for $75M
Newport Beach, CA-based CT completed the sale of four Southern California industrial buildings in two transactions totaling $75 million.
CT divested a 339,328-square-foot industrial building in northeast San Diego County for $44 million to General Atomic Aeronautical Systems, a leading manufacturer of Remotely Piloted Aircraft systems, radars and electro-optic and related mission systems solutions. The buyer plans to occupy 57% of the building located in the Poway Business Park at 12367 Crosthwaite (pictured above).
Kidder Mathews’ Mickey Morera and Colliers’ Ted Cuthbert represented both parties in the sale.
In a separate transaction, CT sold three newly-constructed industrial buildings for $31 million on Aerojet Avenue near the 210 Freeway in Azusa, CA. The 8.35-acre site was subdivided and developed with state-of-the-art distribution buildings totaling 185,273 square feet. CBRE’s Lynn Knox, Jason Chao, Case Dahlen and Cannon Chang provided marketing expertise and represented CT in the sale.