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Sagard Real Estate Acquires Key Industrial Property in San Diego's Miramar Submarket
Slice of Real Estate Team
June 21, 2024
Key Highlights:
Sagard Real Estate acquires an industrial property in Miramar, San Diego.
First investment under a new separate account with a state public pension plan.
Property features 22-foot clear height, 8,000 sq. ft. of office space, and 1600A power supply.
Source (Business Wire)
Notable Quotes
"We are thrilled to solidify a new partnership and acquire this property. This investment aligns with our strategy of targeting high-demand assets in thriving submarkets positioned for long-term success and resilience."
"The Miramar submarket is a vital hub within Central San Diego, offering excellent connectivity and a rich mix of tenants from various industries. The property's strategic location off Miramar Road and proximity to key transit routes like I-15 and I-805 make it an ideal investment. We see significant potential for rental growth and future redevelopment opportunities in this area."
Our Take:
Sagard Real Estate’s acquisition in the Miramar submarket of San Diego is a strategic move that aligns well with their investment strategy focusing on high-demand assets in dynamic markets. The property's location, coupled with its robust infrastructure and tenant mix, underscores its potential for long-term success and resilience. This inaugural investment under a new separate account with a state public pension plan further showcases Sagard's ability to leverage partnerships and enhance their portfolio with valuable properties. The Miramar submarket’s ongoing trend towards higher-value uses signals a promising outlook for rent growth and property appreciation, making this acquisition a noteworthy addition to Sagard Real Estate’s portfolio.